Overview
From the today's H4 chart and as it was expected yesterday, we should wait for breaking the Resistance level 159.00 before making the decision to continue the bullish move. Today and as shown from the H4 chart, the pair failed to break this Resistance level yesterday and stopped its bullish trend for this week. Currently it is testing the Support level 158.20 again trying to break it through to start its bearish move. If the pair manages to break this Support level and closes 4H below, it would be another good opportunity for more sell-signals till reaching the Support level 157.45 as a first target then 156.75 as the second target.
Resistance and support levels: R3 (160.40), R2 (160.00), R1(159.00), S1 (158.20), S2 (157.45), S3 (156.75).
