On 1W TF the pair reached the resistance level 1,0100 Williams %R is in overbought zone ready to reverse.
On our working 1D TF the local trend is still bullish BUT the volume is getting down. It is possible to open short positions after we see confirmation signals from indicators e.g. the pair breaks 9-EMA (1,004) down.
Fundamentally on Wednesday the US retail sales are released (12:30 GMT). The forecast is +0,9% BUT according to Redbook research the cosumption went down in March. Moreover average hourly earnings, which were released with NFP, demostrated the downtrend. CPI dropped as well. Consequently we expect that the fact will be lower than the forecast.
On our working 1D TF the local trend is still bullish BUT the volume is getting down. It is possible to open short positions after we see confirmation signals from indicators e.g. the pair breaks 9-EMA (1,004) down.
Fundamentally on Wednesday the US retail sales are released (12:30 GMT). The forecast is +0,9% BUT according to Redbook research the cosumption went down in March. Moreover average hourly earnings, which were released with NFP, demostrated the downtrend. CPI dropped as well. Consequently we expect that the fact will be lower than the forecast.