The pair is trading @ 1.3862; last Friday after being two times @ 1.3880 area, it went up to 1.4000 area; today was started in a bearish direction and right now it is trading around 80 pips lower than last Friday closing; we are trading in the lower bollinger band; RSI is @ 43; stochastic bearish; I think 1.3840 represent a good support and breaking it would open a bearish scenario that should lead the rate to 1.3700 area; failing 1.3840 area would probably bring the pair up to 1.4000;
here are some support and resistance:
R3 1.4154; R2 1.4034; R1 1.3948; S1 1.3828; S2 1.3794; S3 1.3674;
My trading plan:
I would sell 2x units, and try to wait for 1.3828:below 1.3828 a bearish scenario should be on;
stop loss 1.3973;
target 1.37 area;
have a good trading day
:D
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