As we could see yesterday the 4H candlestick has erased all previous losses on the EUR/USD pair and continued to proceed further, accelerating to the 1.2850 level. At present we are now at the top of the channel.
We have a potential sell around those levels at 1.2865 with a tight stop are tight, we recommend around 20 pips. If the channel is respected we could see it down to the 1.2770 level.
We will not buy it now, as the price is so high we need to look for a retracement. If the channel gets broken to the upside the only way to buy it is to wait for a BPC pattern and drive it through 1.2920.
We have a potential sell around those levels at 1.2865 with a tight stop are tight, we recommend around 20 pips. If the channel is respected we could see it down to the 1.2770 level.
We will not buy it now, as the price is so high we need to look for a retracement. If the channel gets broken to the upside the only way to buy it is to wait for a BPC pattern and drive it through 1.2920.
