Down slope on the Weekly chart? Ok, one could argue this is a sideways market, but we are on the top of it.
Overbought conditions on a low ADX market? Still, MACD can hold this a bit longer, so bears should take their precautions...
Overbought conditions on a low ADX market? Still, MACD can hold this a bit longer, so bears should take their precautions...
A long term pattern looks clear now, but as said, its a long term one. Consider to trade it if price can´t hold 1.0475 (medium term setup).
Short term levels to watch: 1.0436, 1.0475 and 1.0515. I have a bearish bias on this one, but I am short term wrong above 1.0515, or else one should expect a move to the target area in the near term.
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