Overview
Today's H4 chart shows that the pair might take a new bullish signal after it bounced from the Support level of 155.75 yesterday. As it was expected yesterday, the pair took an upward movement and managed to reach the resistance level of 156.45 trying to break it through to continue the bullish trend. Currently, the cross is trading below the resistance level of 156.45. More bullish signals are still expected in case of closing above this resistance level with the first target placed few pips below the resistance level of 156.75, hence we should wait for more signals before making the decision.
Resistance and support levels: R3 (157.45) R2 (156.75) R1 (156.45), S1 (155.75), S2 (155.00), S3 (154.00).
Today's H4 chart shows that the pair might take a new bullish signal after it bounced from the Support level of 155.75 yesterday. As it was expected yesterday, the pair took an upward movement and managed to reach the resistance level of 156.45 trying to break it through to continue the bullish trend. Currently, the cross is trading below the resistance level of 156.45. More bullish signals are still expected in case of closing above this resistance level with the first target placed few pips below the resistance level of 156.75, hence we should wait for more signals before making the decision.
