On the four-hour chart, it can be observed that the correction from the support level of 1.2400 was pulled up with more than 250 points in the quotation. Currently, the bulls could almost closely approach the resistance level of 1.2700 without reducing the ascending momentum. It is possible to assume that near the level of 1.2700 the price will be hindered by a periodic ceiling, thereby slowing the movement and giving the opportunity for the "bears" to return to the market. In case the forecast coincides, it is probable to expect a stop within the limits of 1.2700 / 1.2720, with a turn to 1.2620 / 1.2570.
Key Levels
Resistance - 1,2700;
Support - 1,2400;
Signals
- It is recommended to buy the pair after a clear fixation of the price above the level of 1.2700 with a prospect move towards 1.2840.
- It is recommended to sell the pair after the resumption of the "bearish" interest, possibly within the level of 1.2700 and a prospect move towards 1.2620 / 1.2570.
Draw your attention: Predictions are not a direct guide to action!
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