Bearish momentum starts to weaken as candles retraces and soon to test 1188.
As we focus on H4 chart, if 1188 is broken above, the next resistance is the downward sloping trend line connecting the highs of the downtrend.
Candles have broken above Fibonacci extension 100.0% at 1184.57 and the next level of exhaustion is at 1188.43.
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Trend Direction |
S3 |
S2 |
S1 |
R1 |
R2 |
R3 |
Entry |
Stop Loss |
Exit |
| Bearish in the long run | 1158.57 | 1171.56 | 1188.43 | 1193.34 | 1202.47 |