At the end
of the trading week the pair was in the zone around 0.6780 – 0.67220 and the Friday session closed at 0.6757.
0.68 – 0.67
is historical for the pair as one can see on the monthly time frame and I think
that without a little deeper correction the pair would have difficulty breaking
out below it.
At the
beginning of next week I expect the pair to test the last low in the zone
around 0.6700 – 0.6685
and to begin a rally, the first target of which should be 0.6800 – 0.6820, I think.
If the pair
breaks out above 0.6800 – 0.6820 we could expect a move north to 0.6900 – 0.6920.
The
alternative scenario is for a depreciation to 0.6400 – 0.6200.
That you for pointing out these levels!
ReplyDeleteThere may be another move to the downside.
ReplyDeleteLooks like its getting ready to push lower.
ReplyDeleteThe pair is pushing higher.
ReplyDeleteGood insight.
ReplyDeleteGood post!
ReplyDeleteExcellent Analysis! Thanks.
ReplyDelete