The price is going to reverse from the resistance zone formed by SMA100, the downtrend line, and 1.10600 resistance level. Probably the market will continue the downtrend. If so, this reversal and a breakout below 1.10200 support and the local swing low will provide us a new sell opportunity.
Entry-level can be below 1.10200
Stop-loss orders should be placed above 1.10700
Profit-target can be placed at 1.09500 support.
RSI confirms the price reversal. MACD lines and histogram are going to support the downward movement.
Entry-level can be below 1.10200
Stop-loss orders should be placed above 1.10700
Profit-target can be placed at 1.09500 support.
RSI confirms the price reversal. MACD lines and histogram are going to support the downward movement.
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