this chart has been on a uptrend since the 26th March 2018, the chart reversed with a head and shoulders formation on the 18th of July 2018 and since been on a downtrend
on the 20th of August 2018. we witnessed a reversal from the 110.000 region.
now if we take a look on the 4 hour time frame 111.600-111.400 seems to be an interesting region and upon drawing a trendline on the shoulders we seem to have a resistance test and a trendline test.
we must note that its the 5th time its testing this region and all attempts have resulted in bearish movement
could we witness a break to 110.400 after a rejection? or could we be bull to 112.000?
on the 20th of August 2018. we witnessed a reversal from the 110.000 region.
now if we take a look on the 4 hour time frame 111.600-111.400 seems to be an interesting region and upon drawing a trendline on the shoulders we seem to have a resistance test and a trendline test.
we must note that its the 5th time its testing this region and all attempts have resulted in bearish movement
could we witness a break to 110.400 after a rejection? or could we be bull to 112.000?