This pair is on a downtrend since Feb 2018, recently pullback got the pair trading at upper bound of downtrend channel. Good chance to enter short for this pair as rejection is shown by pinbar formation. Furthermore, pair is overbought and likely to resume downtrend from here.
TP: 0.72
SL: 0.74
Price rejection from previous support level and RSI indicator shows recovery from oversold position. Trade with caution as this is a retracement trade against the big downtrend
Entry: 0.7675
TP: 0.773
SL: 0.765
Price reached previous resistance and RSI indicator shows an overbought signal. Slight exhaustion from price action can see this pair going back down. TP at previous support and also 61.8 level of fibo retracement
Enter: 1.065
TP: 1.055
SL: 1.07
Expect a pullback from this pair after a strong rally. RSI indicates this pair is being overbought and price rejection is shown at the top of uptrend channel. This pair should retrace back to 61.8 level which coincides with lower bound of uptrend channel.
Slightly risky trade since we are shorting against the uptrend.
Enter: 0.7355
TP: 0.73
SL: 0.7385
Price rejected from previous resistance area and RSI is coming down from oversold region. We can see a pullback coming after 2 days of bullish USD
TP: 1.31
SL: 1.32
