Pair continues to trade higher and I think it will reach a top soon around
the resistance area – 1.1850 – 1.1900. It is also acceptable if the pair reaches
1.2000. This is why we should be looking for sell opportunities
Technical Overview:
D1 – Top of the Bollinger Bands, breaking the up trend line from the tops – watch closely as it might turn into a false break
H4 – Bearish divergence is already there – our trigger is bearish candle and change in MACD histogram to the downside which will complete the divergence
H1 – Also bearish divergence forming – same as with the H4 chart. Push higher around the mentioned resistance zone, bearish candle pattern and bearish
histogram on MACD
Entry:
The combination of both time frames (H4 + H1) would be a perfect sell trigger
Target 1: 20 MA on the H4 chart
Target 2: 1.1730
Watch the Video Explanation (extract from the daily market forecast video)
Have a profitable trading day!
Yours,
Vladimir
