The pair is trading sideways on a 4H Inverse Head and Shoulders
pattern ( RSI
= 57.236, MACD
= 0.0001, Highs/Lows = 0.0000) with 1.27480 as the Resistance and 1.26060 the Support. Having broken (sideways) the 1D Channel Down of May, there are slightly higher chances of rising more, especially since the MA50 was emphatically crossed for the first time since April 30th. Last time that happened the price rose by +1.74%. This is at 1.28742, which is just above the 1.28670 1D Resistance. We are willing to go long on the 4H R break out and target the 1D Resistance.
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