The pair is trading @ 1.4246; yesterday the pair ranged between 1.4200 and 1.4275; Nothing happened. The reason? Probably nobody is able to understand if the bad period is over or not; lots of data let me think it is not over and it may get worse, while last Wednesday the oil demand was looking strong like in booming periods... something is not clear, and no one want to make a step further. today we have some data for the EUR side, some are out and may push the pair a little bit higher. In the 4h chart the pair is trading over the EMA, in the upper bollinger band, the RSI is @ 57, and the stochastic is retracing to the down side.
Here are some support and resistance:
R3 1.4390; R2 1.4315; R1 1.4281; S1 1.4206; S2 1.4165; S3 1.4090;
my trading plan:
sell here @ 1.4243;
stop loss @ 1.4327;
target: 1.4050 area.
have a nice trading day
:D
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