RESUME & VIEW – THE PAIR CONTINUES MOVING INSIDE 0.9000-1.0000 BORDERS, EVEN NARROWED THE RANGE TO 0.9000-0.9600. IT IS STILL MOVING BELOW 200SMA, WHICH IS LOCATED AROUND 0.9700, MEAN THE PAIR SILL HAVE A CHANCE TO RENEW THE LONG TERM DOWNTREND. TO BE ABLE TO DO THAT IT MUST DEEP AND CLOSE BELOW 0.9000 PSYCHOLOGICAL AND TECHNICAL SUPPORT ON WEEKLY BASIS. IF SUCCESSFULL THE DEEP, ON THE CHART WILL BE FORMED H&S PATTERN. AT THE OTHER SIDE IF THE PAIR MOVES ABOVE 0.9700, PARITY TEST WILL BE ON SIGHT.

RESISTANCES:

Minor – 0.9600 | 0.9700 | 1.0650

Moderate – 

Strong – 1.0000

PIVOT POINT – 0.9350

SUPPORTS:

Minor – 0.9200

Moderate – 0.8900-0.9000 | 0.8600

Strong – 

Situation Chart:

Share

By Mihail Mihaylov

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

Leave a Reply