1. Identified Support in Green and Resitance in Red

2. Market direction is indicated by 21/55 MA.If 21 is above 55 then the market is bullish and vice versa if
21 is below 55 then the market is bearish.

3. Price action is indicated by 5/8 MA.

4. Take note of the angle of separation between the moving averages

Price opened at MPP this month and went up but bears resisted at MR1 which was 38.2 fib level.

Price opened at WPP with bears in dominance and also the 21 crossed below the 55 which signals a bearish market but also take note that bears reached the weekly pivot target.

Price has been ranging and failed to break through 1.40000 so here I am looking for price to break support and make a lower low and with the 21 below the 55 I am looking for selling opportunities on lower timeframes H15&H5.

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