These technical outlooks are NOT trade ideas, they are simply technical analysis to give traders a DIRECTIONAL BIAS on the day.
Good evening traders!
Having held the .716 low toward the end of 2016, consolidation is to be expected on this pair until we manage to break to the downside.
The .7246 resistance level will put pressure on the downside and as long as price remains below it shorting opportunities are preferred.
A sustained break below the .716 support figure is required to open up further downside.
I hope this offers some directional clarity for traders on this pair.
Enjoy!
Good evening traders!
Having held the .716 low toward the end of 2016, consolidation is to be expected on this pair until we manage to break to the downside.
The .7246 resistance level will put pressure on the downside and as long as price remains below it shorting opportunities are preferred.
A sustained break below the .716 support figure is required to open up further downside.
I hope this offers some directional clarity for traders on this pair.
Enjoy!
