The resistance level of 0.6930 held back buyers. Probably, a multi-candlestick head-and-shoulders reversal pattern is being formed.
The pair is trading in the range of the round important level 0.6900 on the H1 timeframe. The ascending truncated pattern of the H2 level ended with the breakout of the inclined channel. …
The resistance level of 7.80 held back buyers. Stochastic Oscillator indicator signals overboughtness. If the price fixes below the support level of 7.50, it may continue further down.
Trading recommendations:
Sell below support level 7.50.
Stop loss for the resistance level of 7.80.
Target levels - 7.29; 7.00; 6.50.
The pair is trading in a short-term uptrend above the level of 110.10 due to the strong US economy data published on Thursday. The pair still has the potential for further growth if it stays above 109.80.
The price is above the middle Bollinger band, above SMA 5 and SMA …
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