Key price levels : 0.70997 - 0.71312 - 0.74310
Weekly Charts pattern : resistance line , W1 Chart.
The pair is moving in a bearish dynamics in a triangle. The chart analysis indicates the bearish trend can be supported by the Hidden Markov Models Analysis, the RSI momentum indicator.
The D1 scale indicates that the patttern is in a bearish - trendless channel with a support zone at 0.70997 . The trend can lead to a possible bullish retracement with a key level price at 0.71312.
To give an evaluation of the possible movements of the cross it is utilized the Hidden Markov indicator techniques.
With the combination of the price lines and the stochastic Hidden Markov Processes are indicated two possible forecast value.
- The forecast value in the bullish is valued at 0.74310
- The forecast with the bearish - trendless cycle is valued at 0.71312
Figure 2 exhibits the hypothetical path and the forecast value
Considering the slope of the trends, the key level price and the possible retracement it can be evaluated a forecast price level at 0.71312.