Summary Monday:
The currency pair rose today, according to yesterday's forecast, but it was not a signal for further growth. After peaking at the 1.0871 level there has been a decline. Currently, the course is trading around 1.0832. Weak traffic on the currency pair, we can explain the lack of significant data on the calendar today.
Tomorrow also did not have any significant data, which may lead to a similar stagnation on the currency pair.
Forecast for Tuesday:
The technical situation is not shimmered significantly since yesterday. Currently, the currency pair is just above the important support 1,0818-35 (lows of May 27). Still the preferred option is a correction in the direction of today's high of 1.0871 and the resistance level at 1.0916 (which is 23.6% fibo falls from 1.1215 to 1.0826). Then, if this resistance is defeated it would look for another resistance in the vicinity of 1,0954-1.10 (38% fibo falls from 1.1215 to 1.0826).
Note: as long as support is maintained at 1,0818-35 variant of correction is a variant of the base.
In the event of a breach of support, you should expect the declines, in the vicinity of this year's low of 1.0456.
The currency pair rose today, according to yesterday's forecast, but it was not a signal for further growth. After peaking at the 1.0871 level there has been a decline. Currently, the course is trading around 1.0832. Weak traffic on the currency pair, we can explain the lack of significant data on the calendar today.
Tomorrow also did not have any significant data, which may lead to a similar stagnation on the currency pair.
Forecast for Tuesday:
The technical situation is not shimmered significantly since yesterday. Currently, the currency pair is just above the important support 1,0818-35 (lows of May 27). Still the preferred option is a correction in the direction of today's high of 1.0871 and the resistance level at 1.0916 (which is 23.6% fibo falls from 1.1215 to 1.0826). Then, if this resistance is defeated it would look for another resistance in the vicinity of 1,0954-1.10 (38% fibo falls from 1.1215 to 1.0826).
Note: as long as support is maintained at 1,0818-35 variant of correction is a variant of the base.
In the event of a breach of support, you should expect the declines, in the vicinity of this year's low of 1.0456.