The movements are still within the sideways trend area shown on the 4 hour chart … it is best to stay neutral until the price is out of this area to determine its direction …
Going back to the upside and breaching 1.3325 might be enough to activate the upside down head and shoulders pattern shown on the chart to be the next potential targets around 1.3435 as the first target then 1.3550 as the second target and then the 1.3660 as the third target.
A breach of support 1.3195 could cause negative pressure on the pair and push it to test the support of 1.3070 as the first target, whose breach may extend from the downside towards 1.2915 as a second target and then 1.2780 as a third target
Tags:
Related Posts
