RESUME & VIEW – THE PAIR STILL HAS A CHANCE TO FORM THE LONG WAITED HEAD AND SHOULDERS PATTERN AS SEEN FROM THE CHART BELOW. IT IS ON WAY TO FORM ANOTHER HEAD&SHOULDERS PATTERN INSIDE THE BIGGER RIGHT SHOULDER FORMATION. FOR COMPLETING THE LONG WAITED H&S PATTERN, THE PAIR WILL NEED TO CLOSE BELOW 0.9000 SUPPORT ON THE WEEKLY BASIS.

BOUNCING AGAIN FROM AROUND 0.9000-0.9150 SUPPORT ZONE WILL RETURN THE PAIR MOVING IN RANGE BETWEEN 0.9000 SUPPORT AND 0.9800 RESISTANCE.

RESISTANCES:

Minor – 

Moderate – 0.9800 | 1.0100

Strong – 1.0000

PIVOT POINT – 0.9500

SUPPORTS:

Minor – 0.8000

Moderate – 0.9125 | 0.8900-0.9000 | 0.8600

Strong – 

Situation Chart:

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By Mihail Mihaylov

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

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