Technical analysis by AMEGA - Opinion
Fundamental analysis: short-term bullish trend has turned around, now prices are moving downwards. The price failed to break through the strong resistance level at 131.982 and rolled back. Among the important news on the European Union today is the Markit Manufacturing PMI in France and Germany.
Technical analysis: the long-term trend is bullish since 2012. On the H1 chart, we will pay attention to the Alligator's mouth opened downwards, in addition, most fractals are below the red line – a signal for sales.
Trading recommendations: we follow the short-term bearish trend, short positions - below 129.876. Cancel this scenario and, accordingly, a long position above the level 131.206.
Sincerely, Sergey Ryazantsev - financial analyst of brokerage company Amega
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It’s recommended to try to have a short position near the control resistance zone 1.13742-1.13650 (100 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.