Formation of a new lower low and lower high are confluences for a possible downtrend.
The price point previously reached this high area back in early March and the price was heavily rejected. A repeat of this pattern is more than likely, as the price has already rejected we can catch the rest of the pips down to the indicated support zones.
RSI and Stochastic's seem to agree, both showing oversold conditions which is further confirmation of a downtrend. 🤞
Enjoy :)
The price point previously reached this high area back in early March and the price was heavily rejected. A repeat of this pattern is more than likely, as the price has already rejected we can catch the rest of the pips down to the indicated support zones.
RSI and Stochastic's seem to agree, both showing oversold conditions which is further confirmation of a downtrend. 🤞
Enjoy :)