As we can see in this pair, the price tested several times the resistance level identified and fell several times. This level already has some time, so we can consider it as a fairly solid level. After the sharp rise we observed in the chart in recent days we expect a price correction down to the trendline. The RSI has overbought so we have one more signal to sell. We are updating this pair as the price moves.
Trade active:
We are now facing a reversal candlestick on the H4, '' hanging man '', which means that the trend may change from bullish to bearish. We should open a SHORT position now with a SL at 20 pips. TP1 at 1.01350 (+20 pips) TP2 at 1.01150 (+40 pips) TP3 at 1.00850 (+70 pips).
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