The pair has moved higher during the previous period, supported by important positive economic data released from the #United #States. This has pushed the pair into a buying peak on most technical indicators.
On the #RSI indicator on the daily and 4-hour timeframes, we can see that the indicator has risen above the 70 level, which supports the analysis of the #Forex #Trade #Time team mangerand confirms that the bullish momentum may soon come to an end.
On the #Bollinger Bands indicator on both the 4-hour and daily timeframes, we can observe that the price has traded near the upper boundary of the pair, which further confirms that the direction may change soon.
The price is currently trading around 155.60 at the time of writing this report. The upcoming period may present an opportunity to capture profitable selling trades while maintaining good capital management.
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