Further rise is still expected this week and break of 1.1086 resistance will target 1.1713. On the downside, below 1.0795 minor support will turn bias back to the downside for 1.0461 support.
Comments
zjl
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So...wait now?
Akhmeem
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I will update if I get any clear entry.
stream
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Sorry , but I cant see any expectation for rising ...
Akhmeem
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Actually at this point, we're viewing price actions from 1.0461 as a consolidation pattern with rise from 1.0517 as the third leg.I expect strong resistance around 38.2% retracement of 1.3993 to 1.0461 at 1.1810 to limit upside and bring down trend resumption eventually.
thank you ..I am trying to prove what I am saying .. By the way 1.046 is a temporary support , next one is 1.0425 . From somewhere there I expect a pullback to 1.070 .