After hawkish FOMC, the pair formed h4 bearish candle with small body and long wick followed by another bearish candle (could be called pinbar) and the price has reached the previously formed double top i.e. 1.4565 as well. If the price sustains above 14565 then this could be the mere correction after strong bullish trend. However, if th price breaches and forms new low, we ill be interested to short the pair provided its peer pairs breaking lows and the potential technical levels as well like oversold oscillators and key figures.
Note
The price has reverted back to our defined box. Now any break below 1.4550 can lead to 1.45 and low.
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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.