Tomorrow's close price will show the possible direction for this price. Like the previous regression channel shows, after the trend break, price will make a pullback before reversing to the opposite direction (usually known as first touch).
Upside : this pair will meet resistance around 1.347 (127.2 Fib. extension)
Downside : 1.3165 is the support from sept. high, a clear break of this level it may meet 1.288 main support.
a Classic divergence also seen on the MACD histogram, this means we'll need forther confirmation of a certain price action may happen, reversal, ranging, or continuation until the next divergence happen. It's at resistance by regression channel now.
High vilatility impact events for next week :
German and UK Consumer Price Index (Jan, 15)
US Producer Price Index (Jan, 15)
Eurozone and US Consumer Price Index (Jan, 16)
ECB Monthly report (Jan, 17)
US Reuters/Michigan Consumer Sentiment Index (Jan, 18)
Upside : this pair will meet resistance around 1.347 (127.2 Fib. extension)
Downside : 1.3165 is the support from sept. high, a clear break of this level it may meet 1.288 main support.
a Classic divergence also seen on the MACD histogram, this means we'll need forther confirmation of a certain price action may happen, reversal, ranging, or continuation until the next divergence happen. It's at resistance by regression channel now.
High vilatility impact events for next week :
German and UK Consumer Price Index (Jan, 15)
US Producer Price Index (Jan, 15)
Eurozone and US Consumer Price Index (Jan, 16)
ECB Monthly report (Jan, 17)
US Reuters/Michigan Consumer Sentiment Index (Jan, 18)