The price is below the moving average 20 MA and MA 200, indicating the downward trend.
Average in the MACD is below the zero level.
The oscillator Force Index is below the zero level in correction.
If the price rebound from resistance level, you shall follow recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 1.1170
• Take Profit Level: 1.0970 (200 pips)
• Stop Loss Level: 1.1230 (60 pips)
If the level of resistance is broken, you shall follow recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 1.1240
• Take Profit Level: 1.1370 (130 pips)
• Stop Loss Level: 1.1200 (40 pips)
GOLD
Possible long position at the breakout level 1188
GBPUSD
Possible long position at the breakout level 1.5740
USDJPY
Possible short position at the breakdown level 122.00
USDCHF
Possible long position at the breakout level 0.9430
