© Dukascopy Bank SA
Pair is developing in the ranks of a Channel Down pattern rather well ( as indicated by 84% quality rating). Magnitude rating being in the higher than average side indicates that pair's movements are also in elevated pace which offers additional trading opportunities. At the moment pair is mid way moving from pattern's resistance to the pattern's support. Short term technicals point that pair is likely to maintain such course in the short term. Medium technicals point at appreciation of the pair suggesting it should bounce from the pattern's support and maintain its bullish trend. There are no indications about the possible breach at the moment.
© Dukascopy Bank SA