Monthly chart: the pair is on the way to Bollinger's upper band (1.3931) and bulls do not have any potential for a further break, because ADX did not exceed "30".
Thus, a main strategic scenario is a bounce down from 1.3931 and movement to the area of Bollinger's medium band (1.3139).
Weekly chart: a long consolidation inside of the ascending triangle is coming to an end. In all likelihood, this accumulation will be continued this week as well, because ADX did not turn its full potential on. Support is on the middle (1.3605), resistance is on the upper band (1.38).
Day chart: the same picture is here.
Conclusion: a main scenario is the flat within 1.36-1.38. Another option is the break above 1.38, movement to 1.3931 and a bounce down in the direction of 1.36.
Monthly chart: bulls are in a very good shape, thus we consider an option with the break of Bollinger's upper band (1.6821) and movement in the direction of the level 1.7754.
Weekly chart: a significant dash up is taking place, but since it takes place on ascending ADX, a bounce down in the direction of the middle band (1.6275) is possible. We can also note a broken bearish Over&Under. It means that no correction down can be considered as a trend' reversal down.
Day chart: here we definitely have the front for bulls.
Conclusion: a main scenario is movement to 1.68210, a roll down to the area of 1.63 and start of intensive growth of the pair with target at 1.77 (in the middle run).
Another option is a direct growth with the break of 1.68210, without significant corrections.
Monthly chart: the pair is undergoing through a technical upper correction which changes its main decline tendency. Bollinger's medium band (0.9767) area is expected to provide a strong resistance point and a significant sales offer. There same area includes bullish interest to fully break downtrend. The break above 0.9767 would provide buyers with a reversal moment.
Weekly chart: a significant bullish convergence is a good prerequisite to continue a correction up within the month's frame. A key confirming resistance is represented by the Bollinger's medium band (0.9136).
Day chart: dormant figures of ADX/RSI connection can speak in favor of the flat for the current weak within the range 0.8861-0.9136.
Conclusion: so, in the case of breaking above 0.9136 we wait the pair to be based in the area of 0.9767, where middle-term scenario for the trend will be found (which we will discuss in the coming review). Another option is a bounce down from 0.9136 and flat within the range 0,8861-0.9136.
We are constantly improving our website quality. If you have any suggestions on how to make our website better or noticed an error on the website, please tell us