Overall trend biased is still bearish.
Reasoning:
Last week, Price was hovering above 0.66000 support line. However, as of yesterday (with the help of fundamental news) - Price managed to break below 0.66000 level.
Pending orders have been set and will be triggered upon retest on that level (Hopefully Support turned to resistance).
Our target TP is based on AB=CD; Where the length of AB is the equivalent to CD.
Reasoning:
- Price is below ema200 on daily
- MAs crossovers on daily as well
- ab=cd. bc retracement is 50% of AB (refer hourly).
- Price broke below 0.66000 level
Last week, Price was hovering above 0.66000 support line. However, as of yesterday (with the help of fundamental news) - Price managed to break below 0.66000 level.
Pending orders have been set and will be triggered upon retest on that level (Hopefully Support turned to resistance).
Our target TP is based on AB=CD; Where the length of AB is the equivalent to CD.