The pair is trading @ 1.3918; during Friday it went down to 1.3875 area after touch 1.4070 last Thursday; no macro data was supporting this movement so I would say it is just the continuation of the ranging period; on the 4h chart we can see the pair is trading in the EMA area, it was crossing it in the up direction, and apparently it failed to do it; the stochastic is close to change direction, form bullish to bearish; and the RSI is @ 47;
here are some support and resistance:
R3 1.4344; R2 1.4149; R1 1.4034; S1 1.3839; S2 1.3759; S3 1.3564;
may trading plan:
buy 1x unit now @ 1.3930;
buy 1x more unit if the pair goes down to 1.3870;
stop loss just below 1.3839 (as soon we can say 1.3839 is broken)
target 1.4050 area.
have a good trading day
:D
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