arod91

arod91

What we see here is a Head & Shoulders pattern, where our first target is 11200 first. Then possibly might see a retracement to 10900, and after that, the first target of the inverse H&S is within a range of 14300-14500 USD.

arod91

We can see right now at RSI that is accumulating to the overbought territory, the price is too high, reaching the level of a previous higher high which consequently produced a big sell-off turning down the price to 108 levels. So in this case, anytime soon we could see the opportunity to enter in a hard downtrend rally.

arod91

The behavior of 4Hrs candles temporality shows that the price has touched the downtrendline (resistance), and popped out a pin bar that reinforces the probability for a bear rally through the next days. As well, the RSI confirms the downtrend with +70, meaning that the pair shows signs of being overbought. Entry: 110.112 TP: 108.694