*). Pullback to Fair Value Gap (FVG): The price is currently pulling back towards a Fair Value Gap (FVG). An FVG represents an area of imbalance in the market where the price is likely to react. Look for confirmation signals such as bearish candlestick patterns, volume increase, or oscillator divergence within this FVG to reinforce the bearish bias.
*). Given the rejection at the strong resistance level of 1.08850, the formation of lower highs and lower lows on the 4-hour chart, and the current pullback into the Fair Value Gap, the price is expected to continue its downward movement towards the support level at 1.08125. Traders should look for confirmation within the FVG to reinforce this bearish outlook and manage their trades accordingly.
*). Given the rejection at the strong resistance level of 1.08850, the formation of lower highs and lower lows on the 4-hour chart, and the current pullback into the Fair Value Gap, the price is expected to continue its downward movement towards the support level at 1.08125. Traders should look for confirmation within the FVG to reinforce this bearish outlook and manage their trades accordingly.
