According to our pair, there are a lot of publications and articles claiming that we are seeing a downtrend and the price is in correction.
If we consider our technical indicators, then on the MACD histogram we will really see that we have come out of the histogram and at the moment we have a signal to sell the pair. When we look at Stochastic on a 4-hour chart, we see a rise on the contrary. Because of that these indicators do not give any clear signal at the moment.
However, if we go down and look at the 1-hour chart, then we can see the formation of the figure "Double Inverted Peak", which looks like an inverted "Head and shoulders" 4-hour chart.
These figures are reversal, so it would probably be best to wait for the price to move upwards and expect the price to advance to the level of 1.31. Then we can consider the further behavior of our quote.
If we consider our technical indicators, then on the MACD histogram we will really see that we have come out of the histogram and at the moment we have a signal to sell the pair. When we look at Stochastic on a 4-hour chart, we see a rise on the contrary. Because of that these indicators do not give any clear signal at the moment.
However, if we go down and look at the 1-hour chart, then we can see the formation of the figure "Double Inverted Peak", which looks like an inverted "Head and shoulders" 4-hour chart.
These figures are reversal, so it would probably be best to wait for the price to move upwards and expect the price to advance to the level of 1.31. Then we can consider the further behavior of our quote.