The current resistance appears to be at 0.738 level.
This could go either way, first and more likely option is that it will be rejected by the 0.738 level and go down to the 0.700 support.
Second option appears to be the accumulation at around 0.738 level and breakout to 0.774 level.
Either way the short term movement is likely to the downside, for the price rejection or for the accumulation. As the stochastics indicator suggests.
Comment your thoughts on my analysis
This could go either way, first and more likely option is that it will be rejected by the 0.738 level and go down to the 0.700 support.
Second option appears to be the accumulation at around 0.738 level and breakout to 0.774 level.
Either way the short term movement is likely to the downside, for the price rejection or for the accumulation. As the stochastics indicator suggests.
Comment your thoughts on my analysis
Note
I would personally go downside with trailing stopNote
appears that it was already accumulated in 4 hour chart and will go upwards, trailing stop from 0.73 seems most appropriate
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.