The price is below the moving average 20 MA, indicating the downward trend.
Average in the MACD is below the zero level.
The oscillator Force Index is below the zero level.
If the price rebound from resistance level, you shall follow recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 1.6200
• Take Profit Level: 1.6000 (200 pips)
• Stop Loss Level: 1.6260 (60 pips)
If the level of resistance is broken, you shall follow recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 1.6270
• Take Profit Level: 1.6370 (100 pips)
• Stop Loss Level: 1.6240 (30 pips)
GOLD
Possible short position at the breakdown level 1144
GBPUSD
Possible long position at the breakout level 1.5560
USDJPY
Possible short position at the breakdown level 120.00
USDCHF
Possible short position at the breakdown level 0.9850
