This is my personal point of view and no financial advice.
Weekly chart :
- We are still bearish making clear lower highs and lower lows.
- We formed a big bearish W pattern, I drew my FIB from the last weekly low to the previous structure high.
- We rejected the weekly supply and demand zone ((93.400) if you look on the monthly this aligns with a very big supply and demand zone.
Daily and 4H chart :
- We were making short term higher highs and higher lows but as discussed above we rejected that blue box which is the weekly supply and demand zone.
- We broke the last daily HL and are now making daily lower highs and lower lows.
- We are forming another bearish W pattern and are currently rejecting the daily supply and demand zone (90.900)
I expect the the daily take profit to be hit in the near upcoming weeks (89.600) and on the long term I see the 88.00 being hit as well.
Again this no financial advice this is just my point of view about the market.
Weekly chart :
- We are still bearish making clear lower highs and lower lows.
- We formed a big bearish W pattern, I drew my FIB from the last weekly low to the previous structure high.
- We rejected the weekly supply and demand zone ((93.400) if you look on the monthly this aligns with a very big supply and demand zone.
Daily and 4H chart :
- We were making short term higher highs and higher lows but as discussed above we rejected that blue box which is the weekly supply and demand zone.
- We broke the last daily HL and are now making daily lower highs and lower lows.
- We are forming another bearish W pattern and are currently rejecting the daily supply and demand zone (90.900)
I expect the the daily take profit to be hit in the near upcoming weeks (89.600) and on the long term I see the 88.00 being hit as well.
Again this no financial advice this is just my point of view about the market.