Monthly
The monthly trend seems to start moving in channel marked by yellow and red trendlines. A break of the 1.05592 will lead to resumption of the major down trend which will fall into monthly support around 1.00883 and break of trendline R can lead to retest of the 1.18828 resistance zone as shown below.
 |
the pair is still in a congestion making large swings on the daily due to reaction on the large monthly support. Break of the support level at 1.08009 will lead to retest of daily lows at 1.05592 where a large reaction is expected. Break of red trendline resistance Y will lead to retest of the upper zone of the congestion around 1.13705 which the same zone for the yellow trendline resistance R.
No comments:
Post a Comment