Currently the pair is trading in a small range from 1.3040 to 1.3100/3110. On the 1-hour chart, the EMA 200 has been acting as a support line, which is consistently turning up recently, and the pair is making higher highs and higher lows. The current EMA 200 is positioned around 1.30, which is also a previous resistance level, and now is turning into an important support level.
Trading strategy based on 1-hour chart:
Bullish: if the pair can hold above 1.30/1.3040.
1st resistance: 1.3100/1.3110
2nd resistance: 1.3190/1.3200
Bearish: if the pair breaks down below EMA 200.
1st support: 1.2950
2nd support: 1.2900
No comments:
Post a Comment