On the daily chart the pair is growing along the upper border of the Bollinger Bands indicator, the trend is upward. The MACD histogram is in the positive zone, its volumes are slightly growing, the signal line crosses the histogram’s body upwards, giving a signal to open long positions. The Stochastic is moving alongside the border between the neutral and the overbought zone, giving no clear signal.
On the 4-hour chart the pair is trying to rebound from the upper border of the Bollinger Bands indicator. The price range is widening, keeping the possibility of the further price growth. The MACD histogram is in the positive zone, keeping a weak buy signal. The Stochastic is in the neutral zone on the border with the overbought zone. In case of an upward breakout the sell signal will be received.
Support levels: 17.90, 17.55, 16.75, 16.25, 15.50.
Resistance levels: 18.57, 19.10, 20.00.
According to the technical indicators, it’s better to open long positions at the current price with the target at 18.50. Stop loss is at 17.60. Implementation period: 1-3 days.
Open short positions at the level of 17.50 with the target at 16.80 and stop loss at 17.90. Implementation period: 1-3 days.