We are still under more pressure, and the short suggestion 1.0220-1.0240 has worked its way lower.
However, we are in oversold territory based on low 4-hourly RSI. The daily MACD is negative and we are still negative on RSI on this same daily chart as well.
I would be inclined to take profit on the short 1.0220-1.0240 near 0.9957 and start building small long with profit taking near 1.0137. After that it may resume downwards to 0.9727.
However, we are in oversold territory based on low 4-hourly RSI. The daily MACD is negative and we are still negative on RSI on this same daily chart as well.
I would be inclined to take profit on the short 1.0220-1.0240 near 0.9957 and start building small long with profit taking near 1.0137. After that it may resume downwards to 0.9727.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.