The confrontation line, which dominates the downside movements from the potential turnaround zones of the double top Gartley pattern proved its solidity, sending the royal pair downwards as seen on the provided four hour chart. Furthermore, the pair fell freely below SMA 50 forming obvious negative candlestick formations and thus we still believe that the bearish effect of the aforesaid harmonic formation is still in progress. A break of 0.8355 will activate fright selling force, targeting 0.8235 as an extended technical objective of this efficient harmonic scenario.
The trading collection for today is in the middle of the key support at 0.82 and key resistance now at 0.85.
The general trend over short term basis is to the downside, targeting 0.77 as far as areas of 0.8965 remain whole.
The trading collection for today is in the middle of the key support at 0.82 and key resistance now at 0.85.
The general trend over short term basis is to the downside, targeting 0.77 as far as areas of 0.8965 remain whole.
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