Downside confluences:
1. Descending trendline resistance.
2. Major key level 1.2400 resistance.
3. MACD divergence wich means the market is losing momentum.
A strong bearish candle through the ascending trendline would point a reversal.
From another point of view the marke is making HHs and HLs wich means the price could extend above 1.24.
If we fail to close below 1.2340 this would be a buy signal.
1. Descending trendline resistance.
2. Major key level 1.2400 resistance.
3. MACD divergence wich means the market is losing momentum.
A strong bearish candle through the ascending trendline would point a reversal.
From another point of view the marke is making HHs and HLs wich means the price could extend above 1.24.
If we fail to close below 1.2340 this would be a buy signal.