Technical outlook and chart setups:
There is no change in the structure as depicted here on the 4H chart. The single currency pair may be preparing for a final leg up towards 1.4380 level. This level is resistance from past support, Fib retracement of downswing (purple color) and fib extension of the upswing (red color) convergence. It is recommended to exit long positions near 1.4370 and reverse from there. Major resistance still remains at 1.4530 and the pair is expected to trade lower towards 1.43 and 1.4 in the coming sessions. Supports are spread across 1.4300 and below 1.4 as seen on charts. Bottom line: Short-term bullish, then reverse towards 1.4.
Trading recommendations:
Plan to exit long positions at 1.4370 and then short from there, stop is at 1.4530 (on shorts), and target is below 1.4.
Good luck!
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