Step by step
As we assumed earlier, our pair fell below the assumed level of resistance at the mark of 1.3130 and easily overcame the previously established level of 1.3075. However, the price returned to it, again moving downwards and updating the annual lows. A new level of support at around 1.2960 was set. Now the pair has moved away from this mark by going into correction.
Currently the last candle is headed down, and the technical indicators are unfolding for sale. Therefore, we recommend taking short positions and setting your goals near the support level. We also assume that the pair can again update the annual lows, so we advise you to move your stop loss to profit by watching a downtrend.
Currently the last candle is headed down, and the technical indicators are unfolding for sale. Therefore, we recommend taking short positions and setting your goals near the support level. We also assume that the pair can again update the annual lows, so we advise you to move your stop loss to profit by watching a downtrend.
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