Rebound from the resistance level

13.03.2021

For the pair under consideration, the situation is starting to be clear. After a short and difficult decline, the price tried to start growing again and reached the resistance level. Probably, this is the maximum that buyers can do in the current situation.

This, presumably, completed the formation of wave [b] of a zigzag or a plane. In this case, a good impulsive decline awaits us in the future, which has already begun. Consequently, it is recommended to look closer at the possibility of opening sell deals at current market prices.

Investment idea: sell 1.3945, stop loss 1.3985, take profit 1.3700.