RESUME & VIEW – THE PAIR HAVE REBOUND A BIT FROM NEAR 1.4800 AND IS CURRENTLY TESTING THE FORMER MULTI-BOTTOM STRONG SUPPORT AT 1.5300. LET US REMAIN THAT THE PAIR DID A BREAKDOWN OF A MULTI-YEAR TRIANGLE PATTERN. OUR TARGET REMAIN 1.3500 DOUBLE BOTTOM SUPPORT FROM YEAR 2009. IF 1.5300 RESISTANCE ZONE WOULDN’T STOP THE PAIR, IT COULD RETRACE MORE TO TEST THE BREAKDOWN OF THE TRIANGLE AT 1.5700, BUT IT IS VERY UNLIKELY.

RESISTANCES:

Minor – 1.5300 | 1.5700 

Moderate – 1.5850 | 1.6300

Strong – 

PIVOT POINT – 1.5050

SUPPORTS:

Minor – 1.4800 | 1.4100

Moderate – 1.4200 | 1.3650

Strong – 1.3500

Situation Chart:

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By Mihail Mihaylov

Independent Capital Markets Trader / Equity Research Analyst. Swing to Long term.

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