The price action is testing major resistance. Breaking above this level might target 1720, which is the 38.2% Fibonacci retracement level.
A bullish trend is applicable above 1580. Negate the trade for a break below this level.
MACD (lower panel) also confirmed a change in trend direction.
Remains a risky trade as the general trend direction remains bearish.
A bullish trend is applicable above 1580. Negate the trade for a break below this level.
MACD (lower panel) also confirmed a change in trend direction.
Remains a risky trade as the general trend direction remains bearish.