This pair is pausing at the 50 sma. It may bounce short from that resistance or may go up to the 100 sma and bounce short from that resistance. Watch the Macd for direction. Macd blue line may go up to the 0 level line and bounce short and cross back over below the red line. This will help confirm a short term bearish retracement to the resistance TP level. 1st trade would be as price bounces off or breaks below the 50 sma with a TP at the bottom of the range box @ 1.12725. 2nd trade would be if price Breaks-Hook-Go below the range box support level and falls to the resistance TP @ 1.10769. Be prepared for a bullish reversal somewhere in the resistance level area so take your profits early if you see bullish reverse candle patterns.
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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.