After breaking the 0.9237 level in the beginning of the week the price does not seem to recover. Yesterday and today we have observed stagnation of the price within 0.9160. At the same time entry signals are fading away.
At the moment the Stochastic oscillator and the Acceleration indicator are not giving any signals. The price is stagnating and there are no explicit entry signals. The only signal left is the sell one from the MACD. Moreover, on Wednesday a fractal was formed below the graph; it might point to further upside consolidation movement.
In current situation I recommend to refrain from trading. Even scalping is not attractive now.
Levels:
Resistance 2 – 0.9400 (50% Fibonacci long-term correction)
Resistance 1 – 0.9237 (SAR)
Support 1 – 0.8917 (61.8% Fibonacci medium-term correction)