We’ve simply been witness to the classical currency pair triangle. Amplitude of the price fluctuation becomes progressively smaller. The triangle usually appears to be a figure of trend persistence, so we join the bears.
The price is above the moving average 20 MA and 200 MA, which indicates an upward trend.
The MACD froze in anticipation.
The oscillator Force Index in the zero line.
In case of break through of the resistance level the following recommendations are:The price is above the moving average 20 MA and 200 MA, which indicates an upward trend.
The MACD froze in anticipation.
The oscillator Force Index in the zero line.
- Timeframe: H4
- Recommendation: Long Position
- Entry Level: Long Position 1,2546
- Take Profit Level: 1,2760 (214 pips)
- Stop Loss Level: 1,2480 (66 pips)
- Timeframe: H4
- Recommendation: Short Position
- Entry Level: Short Position 1,2490
- Take Profit Level: 1,2368 (150 pips)
- Stop Loss Level: 1,2520 (50 pips)