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On the 4hr chart, it is on the down trend, with out any hope, due to a previous long solid red candle put in place.
It is downtrend on the daily chart as well, the proposed bottom is at 0.7440, where a samller wave A was ended there, and that is below the lower bound of bollinger bands. A splash fall in the next few days hits below the lower bound ending with a lower shadow, is likely. But don't take long positions right away, will have to wait for at least one day.
It is not that pessimistic o…
It is downtrend on the daily chart as well, the proposed bottom is at 0.7440, where a samller wave A was ended there, and that is below the lower bound of bollinger bands. A splash fall in the next few days hits below the lower bound ending with a lower shadow, is likely. But don't take long positions right away, will have to wait for at least one day.
It is not that pessimistic o…