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Mar 27 2019, 06:48 PM (+06) | OlympTrade.com

 

The pair reached the trend line during this week. Is it time for a correction? Let’s try to analyze it.

Technical analysis features

Looking at the 1D TF 200-EMA is moving down, which means that the trend is bearish. The trend line is heading down along with the MACD lines.

https://tvc-invdn-com.akamaized.net/data/tvc_0f6f562bfc034a3c0825477ca45f5a8f.png

 

Looking at the working 4H TF, the pair broke 9-EMA down. The Parabolic SAR reversed and gave a signal to sell. The MACD lines are approaching each other. The possible target for the price is 0.7000.

https://tvc-invdn-com.akamaized.net/data/tvc_ec9eab87e870d2c39c8297c25de8753d.png

 

Summary: taking into consideration the global bearish trend and the signals from indicators on its 4H TF – it’s better to think of short positions.

Fundamental features

We have to expect the most interesting pieces of fundamental news on Thursday. At 5 p.m. SNB Gov Board Member Maechler is going to speak.

 

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