Hi Traders!
The market is moving in a Range.
As you can it was falling until 1.20800.
During this fall, it made a Gap.
The Price closed immediatly the Gap and since then it was moving up.
Until it reached the Resistance Area at around 1.22500 it rallyed.
In the H4-Timeframe you can see, that this area is a really important Level.
But it is now unclear, wether...
If you look at the chart from Dec 2017 we are following a very similar pattern for quite some time and to be honest 50 and 200 EMA might keep us with the same pattern.
If we will bounce back at the level of 9880 to bearish, it's not a bad idea to open a short position.
Disclaimer:
This is just my idea, not advice.
Make your own research before you place any orders.
