The currency pair is trading in the range of the round important level 0.9700. The daily timeframe shows that the pair has been in the range of historical lows since mid-2018. Also, on the daily timeframe, the right shoulder of the inverted head and shoulders figure is probably forming now. …
The resistance level of 238.15 is holding back buyers. Stochastic Oscillator indicator signals oversoldness. The MACD indicator generates a downward movement signal. Support level is 229.63.
Trading recommendations:
Sell below 229.63.
Stop loss - 238.15.
Target levels: 222.26; 216.70; 211.00.
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