18th May Technical Review

Good day traders!

I see a bullish candle at my 4H chart and it looks like its going to retain its momentum till 1.25000, our round number. I’m still bearish on the medium and long trend of the pair though but never underestimate the bullish hammer that were seen.

Price will likely reach the 1.25000 and by then, please prepare to sell on rallies. But if the 1.25000 is broken and if there’s still enough momentum from the pair, I reckon it will hit the 23.6 line at 1.25774.

On the downside, a turn at the 1.25000 will likely bring the pair to 1.2440, 1.2400 and eventually 1.23000.

Above all, I believe we will still see more sell coming this week.

Attached is my H4 and H1 chart:

p/s: If you ever want to play forex, please put a stop loss. You really have to. ;)

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