The pair is near the level which looks interesting for possible trades. Price reached the resistance level
and we have a signal for short trades. There are several reasons for this. Price have been moving between 116 and 112 levels more then 3 months. We have range market conditions confirmed by DMI
confirm price reversal from the resistance level
. Our entry level for short trades can be below 114.90 with stop above 116.70. Profit target is the support level
. But if price breaks the local
swing high, we'll have a signal for long trades.