On the the pair is traded near the upper band of the indicator. The indicator is moving up and the price range is expanding. The price is above the moving average line of EMA50, EMA100 and EMA144. histogram is in the positive area, its volumes are slightly decreasing. is in the central area, at the border with the oversold area, and its lines are directed downwards.
On 4-hour chart the pair is traded in the lower band of the indicator; the indicator is moving sideways, price range has narrowed. Moving average line EMA50 is above the price level, while EMA100 and EMA144 are below the price level. histogram is entered to the negative zone and volumes are decreasing. is in the neutral zone, its lines are directed upwards.
Support levels: 16.35 (two-week lows), 16.92 ( EMA50), 17.09 (local lows).
Resistance levels: 17.60 (local highs), 17.84 (last month highs), 18.02 (upper limit of the ).
It is advisable to open short positions from the level of 17.09 with the targets of 16.69, 16.48 and stop-loss at 17.25. Long positions can be opened from the level of 17.52 with the targets of 17.84, 18.16 and stop-loss at 17.09. Forecast is valid for 3-5 days.
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