However, we also consider this as whipshaw at this on EOD graphs as it's been hanging around that resistance quite a few times that signals movements back again which is adverse to the previous rallies.
Even though we spot out a likely dragonfly at 83.168 which is a on weekly graph, the pair is currently testing a crucial resistance at around 83.495 levels, for now it seems unlikely to breach that level.
More importantly, leading oscillators like and slow curves shows indecision to these indications with the previous upswings; so we believe this as bears may resume at any time as approaching overbought territory. is currently trending at around 46.8572 while articulating.
With spot FX at 83.105 which is still 3.4% below 21DMA (86.0595), risky short term traders and intraday speculators can certainly take the opportunities by going long in binary calls for targets upto 83.495, however, please be mindful of the long term downtrend.
Thus, any breach of the above stated would determine the direction of next uptrend but little bias towards south.