The price reached a resistance zone between 1.03300 - 1.03400 levels and SMA200. We should be ready to get a reversal signal which can be used for opening short term sell positions. RSI is in the overbought zone and it's going to confirm the price reversal. MACD histogram supports the possible downward movement. It allows us to place pending orders for sell below the low of the local candles. Stop orders must be placed above SMA200. Profit targets are at the support levels.
If the price can move above 1.34000 level, we will have to search for new trading opportunities.
If the price can move above 1.34000 level, we will have to search for new trading opportunities.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.