In this trade, I will be entering a short position.
Analyzing the pair on minute timeframes, the pair broke through the area near the 0.83955 price level (a possible reversal zone).
After breaking through that area, there was a downward move, and after reaching 0.83802, it reversed back up to 0.84068, followed by another reversal (which may indicate the presence of a reversal and a pullback).
Considering all of the above, and also taking into account the technical analyses provided by Investing.com, I believe that a sell position represents a good opportunity in this pair.
The short position tool displayed on the chart serves only as a reference to support the entry into this trade.
Several moving averages and the Parabolic SAR were also used in this analysis, and they should be given close attention.
Analyzing the pair on minute timeframes, the pair broke through the area near the 0.83955 price level (a possible reversal zone).
After breaking through that area, there was a downward move, and after reaching 0.83802, it reversed back up to 0.84068, followed by another reversal (which may indicate the presence of a reversal and a pullback).
Considering all of the above, and also taking into account the technical analyses provided by Investing.com, I believe that a sell position represents a good opportunity in this pair.
The short position tool displayed on the chart serves only as a reference to support the entry into this trade.
Several moving averages and the Parabolic SAR were also used in this analysis, and they should be given close attention.
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.
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.