Target: 1.0680
Risk: 1.1200
Technical Reasons:
The pair completed drawing a head and shoulders’ pattern by breaking 1.1060 level, falling under the negative pressure that comes from the exponential moving averages 50 and 100, to lead the price for more decline in the upcoming period.
The negative effect of the bearish pattern will lead the price to decline towards targets that reach to 1.0810 then 1.0680, and the condition of continuing the negative pressure is represented by holding below 1.1200.
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Risk: 1.1200
Technical Reasons:
The pair completed drawing a head and shoulders’ pattern by breaking 1.1060 level, falling under the negative pressure that comes from the exponential moving averages 50 and 100, to lead the price for more decline in the upcoming period.
The negative effect of the bearish pattern will lead the price to decline towards targets that reach to 1.0810 then 1.0680, and the condition of continuing the negative pressure is represented by holding below 1.1200.
www.fxhighway.com
www.facebook.com/fxhighwaycom/
twitter.com/
plus.google.com/1054...15961677289743/posts