The pair is trading @1.3937; yesterday it went up to 1.3998 and down to 1.3876; this morning was up to 1.3990 area, again. 1 week ago was there...no important news are coming today, so my expectation is the continuation of the ranging; on the 4h chart the rate is below the EMA and is trading in the lower bollinger band; the RSI is @ 40; the stochastic is turning bearish; the variance is diminishing, so would not surprise if next movement will be up to 1.4100 area; I think this is a good opportunity to buy; I do not believe the pair will go further down.
here are some support and resistance:
R3 1.4181; R2 1.4059; R1 1.3998; S1 1.3876; S2 1.3815; S3 1.3693;
My trading plan:
I will buy 1x unit now @ 1.3933;
stop loss 1.3865 (or close there, when 1.3876 is broken);
target 1.4050-1.4100 area, let's follow today development;
have a good trading day
:D
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