break of 0.8610/42 support zone will has medium term bearish implication and should bring deeper fall to 0.8284/8355 support zone first.
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break of 0.8610/42 support zone will has medium term bearish implication and should bring deeper fall to 0.8284/8355 support zone first.
the awaited targets that start at 0.8885 followed by 0.9000. Steady daily closing below 0.8710 is required for our expectations to remain possible.
We reckon a breech above the topside limit which rests with trendline support dating back to May 26th, currently at 0.8750, negates the bearish bias on the trade with such a scenario eyeing topside break-targets at 0.8765 and 0.8780
the chart is showing that the pair has succeeded in closing it's daily candle above level 0.8800, and that's mean the up trend is still standing and the pair might head to 0.8840 and then 0.8870
The pair maintains stability above the retest resistance level of the breached rising wedge formation at 0.8710, and this is a positive sign that push us to hold onto our positive expectations in general.
Euro’s intra-day rise to 0.8829 suggests caution on our short position entered at 0.8820 and said resistance needs to hold to retain bearishness for another retreat later
the pair is trading under the level of 0.8800 , any way if the pair succeeded in breaking 0.8800 , it will continue in it's up movements heading to 0.8820 and then 0.8850
Intraday trade:
If a M15 close above 0.8820 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 0.8807 sell only and do not buy. If price closes back above it again do nothing
The range 0.8820 and 0.8807 is neutral area, any trade done in between is personal decision and not part of this analysis
the pair and as we can see from the chart has closed it's daily candle above the level of 0.8750 , so , that's mean the up trend is still standing and the pair is heading to 0.8770 then 0.8790
There is bearish potential for a fall to 0.8720 while 0.8772 - 0.8790 resist. After this fall a recovery up to 0.8790 or 0.8807 is expected.