We have reached strong levels of resistance on the Daily chart. This level at 1.83 has held twice in the year of 2016 and we saw price reverse after reaching this level.
The H4 chart shows that we have made a double top, if this double top holds and price makes a lower low i will be selling the lower low.
Bears who are looking at a more aggressive approach, are going to be looking for a pull back on a lower time frame chart like the H1 or the M15 and sell at the role reversal resistance up at 82.82, they will also be looking for next weeks pivots and paying attention to where WPP and WM3 will be.
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About The Forex Analyst
Graduate in Bcom Human Resources Management. I am a full time Currency Trader and Market Analyst using technical and fundamental analysis, I have been trading in the Forex market since 2016. I am also a part time student at the University of Johannesburg studying Finance and Investment Management. I am always looking to learn and improve my skills as a professional, consistent and successful Trader & Investor for above average returns and a better understanding of the financial industry and financial markets.