The monthly probability is bearish as price is in a large Bearish channel. As long as price remains below the monthly pivot/psychological resistance at 1.1200 I shall deem the probability Bearish. The weekly probability is Bearish too as there is a Bearish crown and a down Fibonacci swing. The daily probability is also Bearish as the most recent counter trend line has been broken and there is a down push zone with respect to the Fibonacci swing. Now that the pivotal support at 1.1100 has been breached I am expecting price to continue lower. Next support is a daily counter trend line (conservative).
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