Our preference: short below as 1.4919 is resistance look for 1.47724
Alternative scenario: the downside breakout of 1.48747 would call for 1.480 1.447
Comment: the RSI is trading above 70. This could mean that either the pair is in a lasting up trend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is negative and below its signal line. The pair could retrace. Moreover, the pair is trading @ 55 MAs (respectively at 1.4880 and 1.481).
can could be looked at as Neutral to Up till 1.4847 is taken out from and ABC
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