RESUME & VIEW – THE PAIR DID A BREAKDOWN WITH STRONG DOWNWARD MOVE OF THE LONG TERM TRIANGLE NEAR 1.5600 LEVEL. IT DEEPENING DIRECTLY EVEN BELOW 1.5300 LONG TERM SUPPORT ZONE, WHICH IS NOW RESISTANCE. THERE ARE TWO TARGETS FROM HERE FOR THE BREAKDOWN OF THE TRIANGLE. THE FIRST ONE IS THE BOTTOM TECHNICAL SUPPORT AT 1.4200 AND THE NEXT ONE IS THE STRONG DOUBLE BOTTOM SUPPORT AT 1.3500 FROM THE Y2009.

RESISTANCES:

Minor – 1.5250 | 1.5700 

Moderate – 1.5850 | 1.6300

Strong – 

PIVOT POINT – 1.5400

SUPPORTS:

Minor – 1.4900 | 1.4100

Moderate – 1.5000 | 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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