The pair is declining amid lower market tensions, large-scale stimulus measures from central banks, weaker dollar and rising oil prices.
The price is testing the middle Bollinger band, below SMA 5 and SMA 14. Moving Averages are intersecting, suggesting to sell. RSI is declining. Stoch have entered the oversold zone. …
The overall trend is downward. Presumably, the correction movement tested the level of 24.00, making it a price pivot zone. Stochastic Oscillator signals overboughtness. A breakout of 22.60 will result in the formation of a 1-2-3 descending pattern within the overall downtrend.
Trading recommendations:
Sell below 22.60.
Stop loss: 24.00. …
Don't have your language?
