Technical observation
The pair on the 4hour chart above is rallying between a resistance zone 1.1655-1.1646 and a support 1.1533,I expect either a retracement to the zone and a rejection within it for bearish momentum of price, or a decline to the support followed by a clear breakout below it and a pullback to it for downwards momentum. Remain flat temporarily and wait for either to trade this pair. Should there be a clear breach above 1.1655-1.1646 with a big green candle, wait for a correction to it confirming possible bullish momentum of price before you pick long positions towards 1.1792 or even higher.
Technical levels
Resistance levels
R1.1.155
R2.1.1552
R3.1.1556
Pivot
1.1548
Support levels
S1.1.1545
S2.1.1543
S3.1.1539
Trade signal
Remain flat temporarily.
Origin: FreshForex
