Monthly: The cross is trading between the 38.2% and 50% pullback level (of 152.09 and 160.45). Price action in February posted a bearish Outside Month, often an indication that the rally is over and the start of a new downward bias. The Marabuzo level from February (mid-point form open and close) is located at 150.84. We closed underneath that level in April
Weekly: The weekly chart highlights mixed trading for the last 73 weeks as we hold within a bearish Ascending Wedge formation. A break of trend line support (at 147.00) and the measured move target is located at 136.00.
Daily: Sellers emerged in front of the Fibonacci confluence area of 154.00 (161.8% extension and 78.6% pullback). We have seen some stalling in price action with Inside Harami Candles posted in the daily chart (indecision). We look for any upside corrections to be limited. Bespoke resistance is located at 149.00
