Yesterday’s forex forecast has come true. At the moment one shouldn’t close up sales until the price reaches the level of 1.3879. As can be clearly seen, there is a rising pattern. Those, who didn’t manage to buy the pair yesterday, are advised to wait for the correction at least to the level of 1.3715 and try to buy the pair with the stop below 1.3640.
The daily chart of the EUR/USD currency pair tells us about the possibility of the trend reverse. At the RSI indicator we can see the formation of “Failure Swing” pattern,which can be regarded as a very strong signal to sell the pair, as it indicatesthat the prices are breaking the level of 1.2748.The pattern at the indicator looks similar to “head & shoulders” reversal pattern, the breaking of the neckline will lead to a significant fall of the indicator’s values and the price. One can try to sell the pair at short periods of time, with the tight stop, if possible.