After prices settled in the support zone comprising the year's low, market was subject to a bull reversal with a test of 0.74800. Odds of a continuation remain medium/high however bears kept putting pressure the whole week.
Possible targets : @0.74800 (+30pips) and @0.75400 (+90 pips) or @0.74000 (+40pips) in case of a reversal.
Advice : Stay bullish and buy at any low point while we don't break the 0.74400 bottom level, which will confirm the bearish pressure.
Correlated pairs : USDJPY (92.8%)
We are more likely to experience a strong bull spike with the USDJPY which is currently at a support zone.
Possible targets : @0.74800 (+30pips) and @0.75400 (+90 pips) or @0.74000 (+40pips) in case of a reversal.
Advice : Stay bullish and buy at any low point while we don't break the 0.74400 bottom level, which will confirm the bearish pressure.
Correlated pairs : USDJPY (92.8%)
We are more likely to experience a strong bull spike with the USDJPY which is currently at a support zone.
Trade closed: target reached:
A sideway market can be noticed with a clear support (0.74400) and resistance level(0.74800). Target 1 was reached, followed by a strong bear spike.