RESUME & VIEW – THE PAIR CONTINUED MOVING SIDEWAYS LOCKED BETWEEN 0.9000 AND 1.0000 PARITY LEVEL. PARITY IS IMPORTANT RESISTANCE, BECAUSE IT IS PSYCHOLOGICAL AND ACTED AS TECHNICAL RESISTANCE ONCE ALREADY. THE TEST OF THE PSYCHOLOGICAL AND TECHNICAL RESISTANCE AT PARITY WAS A TEST OF THE BOTTOM FROM YEAR 2008, WHICH IS NOW RESISTANCE. THERE WAS 200EMA LOCATED AT THE TIME OF THE TEST ALSO ACTED AS RESISTANCE. THE PAIR STILL HAS A CHANCE TO BREAKDOWN OF 0.9000 SUPPORT ZONE AND WITH THAT TO RENEW THE LONG TERM DOWNTREND. FOR THAT IT MUST CONTINUE MOVING BELOW 0.9500 RESISTANCE. OTHERWISE EMERGING ABOVE 1.0000 PARITY AND TECHNICAL RESISTANCE ZONE WILL BRING TEST OF THE TOP FROM YEAR 2010 NEAR 1.1750.

RESISTANCES:

Minor – 0.9500 | 0.9750 | 1.0650

Moderate – 

Strong – 1.0000

PIVOT POINT – 0.9250

SUPPORTS:

Minor – 0.8000

Moderate – 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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