Looking VERY BEARISH with these signs but will it go up instead?
The current situation:
1. On the 4HR chart, there is a pattern apparent with the neckline at about 1.18 and it seems like price action has already broken through that neckline currently. The measured move is about 1.02, which is also where the daily 200 moving average is and can act as support for the breakdown.
1. The next level down where there was a bounce was about 1.10, if this level is broken, it will convince me that the symmetrical triangle has been broken. If the daily 200 moving average is also broken with price action start closing below 1, that will be a very sign.
* These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.