Greetings Fellow Traders,
Posted a couple times last week, we had 2 very good selling opportunities off of the weekly bearish strength trend line. Off the second trade the market did not recover any of the over 100 pips rejection off the resistance level and closed the week on a bearish note.
I expect this next week to continue the bearish momentum as we look for some key technical supports to be broken that confirm the trend continuation.
The chart posted is of the weekly chart, but here is a 4 hour view at the same important levels. A break below .6560 this week will add a lot of selling pressure to retest the .64000 area.
Feel free to comment/like/follow
Posted a couple times last week, we had 2 very good selling opportunities off of the weekly bearish strength trend line. Off the second trade the market did not recover any of the over 100 pips rejection off the resistance level and closed the week on a bearish note.
I expect this next week to continue the bearish momentum as we look for some key technical supports to be broken that confirm the trend continuation.
The chart posted is of the weekly chart, but here is a 4 hour view at the same important levels. A break below .6560 this week will add a lot of selling pressure to retest the .64000 area.
Feel free to comment/like/follow
