On the W1 time frame the pair is in the zone around the middle line of the Bollinger Bands indicator and I think it may continue being range-bound in this zone in the following days.
On the D1 time frame there may be a possible move to the upside, to the resistance at 1.3040.
Alternately, the closest support for the pair is around 1.2880.
Of course, all that depends on the data of the US Change in Non-Farm Payrolls, which will be announced this Friday and which always causes major volatility on the market.
Let’s see how it keeps going.
ReplyDeleteGood point, I agree with the analysis.
ReplyDeleteThat's good to know, thank you.
ReplyDeleteGood take on markets, really insightful.
ReplyDeleteGood insight.
ReplyDeleteExcellent analysis as usual!
ReplyDeleteThanks for such an informative analysis.
ReplyDeleteThe pair is consolidating around 1.2950 level.
ReplyDelete