The price has been in a downtrend respecting the light blue trend line.
The price is reaching a key resistance area near the downward trend line indicating that the price is going to fall. I expect to enter the trade once it reaches the resistance level and take profit until the price reaches the yellow support level. Adding on to the confluence the price closed near this level with a doji candlestick pattern suggesting a failure in breaking the resistance level.
The price is reaching a key resistance area near the downward trend line indicating that the price is going to fall. I expect to enter the trade once it reaches the resistance level and take profit until the price reaches the yellow support level. Adding on to the confluence the price closed near this level with a doji candlestick pattern suggesting a failure in breaking the resistance level.