Hi Again. my view on daily. Price rejected resistance trendline, expectable imho. However, i got the feeling that the way price acted over trendline and 110 level was not enough to turn the market into bearish. I believe that price will go back up, re-test the trend, pierce 110 level, eventually hit 110.83. There, at any of those points i will be looking to price action/reaction. Meanwhile, i will trade what i see and not what i think! {image}
Today...
Price did tested and passed through 110 level without any mercy... goodbye psich level, you can turn support now.
Price did test and pierce 110.83 resistance, might not close above it, therefore i will consider as rejection.
I don't think activity will increase in this last hours of the day, so we might be facing an Upthrust, sign of reversl.
However, IMHO this reversal will not go much low. perhaps to 110.03 or 110.01. if it breaks easilly, then it might even test/touch the support-trend line.
But i got the feeling that after this small reversal/correction, price will go up again, re-test and eventually break 110.83 resistance.
Not bearish yet, despite some shorts can be done with special atention.
If you don't know how to earn money, don't loose it.
Indications 50 points hike in June should be fun.
