Time frame: H4
Technical Analysis: The chart shows that the price has started a new bearish trend on 14.02.19. For now, the price has found short-term support at 0.9980. At the same time, the price has formed a head and shoulder formation and if the price breaks the formed bottom of 0.9980 it will be activated. The price is currently below Fibonacci 23.6%, which is an additional indication that the price will continue its downward movement.
Indicators: The price is below 50 EMA, with the moving average playing a strong resistance for the moment.
The 200 EMA is below the price and plays a role of support.
DeM – In neutral territory and does not give signals.
Aggressive Entry in Deal: Sell from current levels with stop at 1.0030
Conservative Entry in Deal: Sell only after a break of 0.9980 and 200 EMA period.
Alternative scenario: If the price breaks 23.6% of Fibonacci and level 1.0020, the price will continue to rise until the next strong resistance at 1.0050
Trader Milko Zashev