If you were to look at the weekly chart on this pair, you can see that price has formed a double top and couldn't push price higher to close above the resistance line.
On this daily chart, price had closed back below the resistance line and attempted to push back up just to get rejected and close back below our resistance line.
If you look at our stochastic and MACD histogram, you can see that they are showing bearish divergences.
We'll watch this pair when market opens to look for an opportunity to short this pair to 0.99500 price level.
On this daily chart, price had closed back below the resistance line and attempted to push back up just to get rejected and close back below our resistance line.
If you look at our stochastic and MACD histogram, you can see that they are showing bearish divergences.
We'll watch this pair when market opens to look for an opportunity to short this pair to 0.99500 price level.
Comment:
For those who took a this trade. Taking profits here is ideal for first target.
Trade closed: target reached