Midterm forecast: There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1.3170 would begin in Midterm.
Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A trough is formed in daily chart at 1.3050 on 11/02/2018, so more gains to resistance(s) 1.3225 and maximum to Sell Zone (1.3290 to 1.3385) is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 64.
Trading suggestion: There is possibility of temporary retracement to suggested Sell Zone (1.3290 to 1.3385). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.
Beginning of entry zone (1.3290) Ending of entry zone (1.3385)
Entry signal: Signal to enter the market occurs when the price comes to "Sell zone" then forms one of the reversal patterns, whether "Shooting Star" or "Peak", in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons: Take Profits: TP1 : @1.3225 TP2 : @1.3170 TP3 : @1.3080 TP4 : @1.2885 TP5 : @1.2805 TP6 : @1.2730 TP7 : @1.2565 TP8 : @1.2250 TP9 : @1.2060 TP10 : Free