To refresh your memory, here are all elements on the charts:
- red lines are lines of the long term bullish channel
- purple lines are lines of the short term bullish channel
The parity broke its resistance at 1.4900 and is finding resistance on 1.4950. The price is in a short term bullish channel and the upper band has just been touched. The corrective movement that followed found support on the midline of the long term bullish channel. We advise to trade only long positions as far as the price is into its short term bullish channel. We will note the presence of a bullish slant on the RSI. At the break out of this slant, a sell signal will be given. A break out of 1.4950 will offer a new buy signal on the parity towards 1.50.