The spot rate is currently testing the intermediate support of its medium term bullish channel at 1.5690 and seems to start a rebound. However, a pass of these levels will release good potential and reach the lower limit of this one to 1,5360.
Technical indicators provide sell-signals but until the support is not broken the assumption of a rebound is most likely. Bollinger bands are much discarded as a result of a strong decline these days. Stabilization is expected in a short term.
According to previous events the market will provide a bullish opportunity at the level of 1.5690 with the 1st objective at 1.5750 and then at 1.5770. A break through 1.5670 will alter this scenario.
No comments:
Post a Comment