Time Chart – H4
Long-term Bullish movement, Short-term Bearish movement.
The price went under the strong horizontal support in the price range of 115.300 and 114.800. Price under 50/200 EMA. Third lower peak and lower bottom.
Price Action – Doji bar on horizontal resistance and test – Possible signal for continuing of the short movement.
DEM – Near oversold market zone
Alternative: If the price reverts back and over 115.200, this scenario might be denied.
Entry Point: 114.800
Trader – S. Fuchedzhiev