We are seeing a powerful downward movement amid the strengthening of the US dollar. After the publication of yesterday's decision of the Federal Reserve on the interest rate volatility in the markets has increased. According to our pair, there was an upward jump by 50pp, after which the price almost returned to the same level as before the publication.
At the moment the trend looks like it may slow down, but there is no confirmation of this yet. Therefore, we will consider options for entering short positions and believe that the downward movement will continue.
When reviewing the daily chart, you can see that a Double top pattern has formed. Resistance levels are at the marks 1.3525 and 1.3430, near which we advise to set the take-profit. Entry into the market should be undertaken after the completion of the corrective movement and confirmation by means of technical indicators. In particular, when the RSI rushes below the level of 30.
