On the 4H chart, there has been a breakout to the upside.
The bearish bias on this chart still holds as the EMA,200 >EMA,50 and the pair is crossing the EMA,200 at 1.34088.
The RSI further confirms a continuation of the initial bearish movement as it is overbought.
Given that the bearish flag is still plausible, The RSI is overbought and EMA,200 has not yet been broken, i would enter a bearish trade off the anticipated continuation of the overall bearish trend.
Entry Point: 1.
S/L: 1.3378
T/P 1: 1.33415 (@PH)
T/P 2: 1.3300
The bearish bias on this chart still holds as the EMA,200 >EMA,50 and the pair is crossing the EMA,200 at 1.34088.
The RSI further confirms a continuation of the initial bearish movement as it is overbought.
Given that the bearish flag is still plausible, The RSI is overbought and EMA,200 has not yet been broken, i would enter a bearish trade off the anticipated continuation of the overall bearish trend.
Entry Point: 1.
S/L: 1.3378
T/P 1: 1.33415 (@PH)
T/P 2: 1.3300