CHART SCALE: W1 (Big Tf), D1 (Small tf)
INDICATORS: SMA 200, SMA 100, SMA 9, Parabolic Sar, Money Flow Index, Linear Regression Slope, Linear Regression Intercept, Regression Channel.
PAIR ANALYSIS :
The pair technical analysis is referring to 21/05/2018 at 13:45.
The inclination of the two SMA (9 and 200) and the angle of regression in H8 tf scale can verify the opportunity of a buy speculation.
The positive value of the Intercept of the Linear Regression as suggested in Fig 1 and Fig 2 in add to the SMA study, support the positive inclination of the Regression Channel.
MFI indicator and the configuration of the Parabolic Sar in H6 chart seem to support the possibility of a great buyers domination.
The bearish crossing of 17 Pips of the Pivot Point in H8 could authenticate the possibility of a bearish retracement.
In this technical context any retracement of the MFI indicator around 9 value in H1 tf can be utilized as a possibility of entry in buy.
Statistically, a bearish crossing of the Regression Channel (indicated in fig 2) could suggests a significant bearish domination or a different inclination of the behavior.
It can be evaluated as a possible forecast level, the price at 87.068 that should resume the bullish force of the currency pair.
Good trading to the Dukascopy Community.
FIGURE 1 specify the W1 analysis
FIGURE 2 express the tendency in D1 tf.