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Monthly Time Frame: Falling like a knife breaking all levels insight. Price broke below .63000 key monthly psychological zone. Next monthly zone .59000 key psychological.
Weekly Time Frame: Scaling down we have a strong bearish engulfing candle signifying bearish momentum in this market. If price pulls back, we can potentially look for reentries to sell this down further.
Daily Time Frame: Strong break and close below that .63000 key zone followed by wicks pointing to the upside showing signs of exhaustion. If we maintain below this zone, we can see this pair come down much lower
4Hr Time Frame: Would like to see short term pull backs in order to enter. If price comes back to either .63000 or .62250 and maintains below, we can anticipate shorts down to our target and next monthly zone .59000 key psych. Although if price manages to break we can potentially see .64000 key psychological. Due to uncertainty of market fluidity risk management is highly recommended.
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