the pair is trading @ 1.4206; yesterday high 1.4241; low 1.4068; it close in positive area from the day before; two days ago and yesterday the volume was higher than usual; the trend is still bullish, and right now we are trading on the upper-side of bollinger band; the RSI is not overbought anymore and the Stochastic is turned bearish;
In my view the pair is turning bearish, but is needed a confirmation, right now on the 4 chart the rate is trading in the lower area of bollinger band...if this candle will close there I think we are going to see a tentative to break 1.40 area today; If not, we may see it at 1.43 again.
here are some support and resistance:
R3 1.4518; R2 1.4345; R1 1.4275; S1 1.4102; S2 1.3999; S3 1.3826
my trading plan:
I am short 4x units from yesterday;
I will stay short
stop loss @ 1.4340 area
target 1.3720 area.
1.4250-80 area would be a good rate to enter the market short;
have a good trading day
:D
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I had to fade comments about today posting, I would like to understand if you really think this was a bad analysis;
thanks alot for your help