After the price went down 3000 pips the Bears still not giving a chance to Bulls. If the Bears still coming, they will bite another peace of cake and reach level 1188.
The price is below the moving average 20 MA and 200 MA, indicating the downward trend.
MACD histogram is close to the zero line, the middle of it left.
The oscillator Force Index is in correction, but under the 0-th level.
If the level of support is broken, you shall follow recommendations below:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position 1228
- Take Profit Level: 1188
- Stop Loss Level: 1239
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position 1244
- Take Profit Level: 1300
- Stop Loss Level: 1228