GU - Area of Technical Confluence

25 feb 2018

Last week's price action bounced off again from a technical area of confluence (61.8% Fib level and a Slope support) But one thing we should be wary about is the reaction of price action on the 200ema. The last time price action touched it, it started a total sell-off. Just an advice, manage your trades properly. I will update this idea if it has been invalidated.

26 feb 2018

Nota

MY USD Bias Would still be bearish until the February High resistance is broken and then retested as a support. The next immediate resistance is the Monthly PP which was rested last week but bears are still on the look out. And if you observe the candles on the 1H TF, so many bull exhaustion.