Despite that the pair reached a strong support at 1.3420 on the W1 time frame and the bar that formed above that support is a signal for a possible bullish correction.
On the D1 time frame there are bars which confirm the expectation for a corrective rally. The priority scenario is here is for a rally for the pair to test the breakout – i.e. a rally to 1.3720 – 1.3750, after which we could expect a renewal of the downward movement to 1.3200 – 1.3150.
The alternative scenario is for a direct depreciation toward 1.3200 – 1.3150 but at the moment that appears less probable.
Very useful information! Thanks.
ReplyDeleteVery helpful analysis.
ReplyDeleteGood insight.
ReplyDeleteGood post!
ReplyDeleteVery interesting information, good.
ReplyDeleteThank you for the analysis.
ReplyDeleteLet's see.
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