sideways break out
A sideways move have established a strong support and resistance level, the price had break out the support level and moreover the price have retested the same level and converted it into a resistance level.
The fact that since Apr 2014 up to July 2014 the price found a lower strong resistance level between 0.94600 and 0.95040 as well as forming two candles that barely touched the MA 80 is given a very high probability to see a continuation of the down trend up to 0.88418, 0.86591 and 0.80646.
Now if i would think of a safe entry i would say, upon sell signal below 0.92013.
good luck for all
The fact that since Apr 2014 up to July 2014 the price found a lower strong resistance level between 0.94600 and 0.95040 as well as forming two candles that barely touched the MA 80 is given a very high probability to see a continuation of the down trend up to 0.88418, 0.86591 and 0.80646.
Now if i would think of a safe entry i would say, upon sell signal below 0.92013.
good luck for all
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