Prices on the H4 appear to be in a negative momentum because they are remaining below the ichimoku cloud and moving downward. a pullback for a sell entry at 1.1854is expected.
In addition, a cup and handle pattern is detected which signals a strong bearish momentum. MACD is showing bearish wave on going, MACD bars are turning dark red, and MACD line has smoothly broken below the signal line.
• There is resistance 1.17472 followed by resistance at 1.17617 and 1.18010.
• There is support at 1.16329, Below, there is 1.15050 and 1.13756.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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