1. Monthly Timeframe:
i) 2000 pip ranges
ii) Monthly 1,300 round number rejection as well as kumo cloud res/rejection
2. Weekly Timeframe:
i) Week of 19th & 26th Jan 2015 Cloud & 61.8 fib rejection & lower high
ii) Strong Bearish Continuation price action
iii) Price making Lower Highs and Lower Lows
iv) Price failed to make new LL, current retracement into structure resistance confluent with smaller 61.8% level & inner TL touch
Targets:
• 1060s
i) -27.2 extension
ii) New Lower Low
• 965/55s
i) Heavily confluent area:
ii) -61.8 extension level
iii) Avg range support
iv) Monthly 200 EMA touch
i) 2000 pip ranges
ii) Monthly 1,300 round number rejection as well as kumo cloud res/rejection
2. Weekly Timeframe:
i) Week of 19th & 26th Jan 2015 Cloud & 61.8 fib rejection & lower high
ii) Strong Bearish Continuation price action
iii) Price making Lower Highs and Lower Lows
iv) Price failed to make new LL, current retracement into structure resistance confluent with smaller 61.8% level & inner TL touch
Targets:
• 1060s
i) -27.2 extension
ii) New Lower Low
• 965/55s
i) Heavily confluent area:
ii) -61.8 extension level
iii) Avg range support
iv) Monthly 200 EMA touch