Long term trend: Down
Medium term trend: Down
Significant levels: 1.1350 (Horizontal Support), 1.1650 (Horizontal Resistance), 1.1000 (Significant Round Number), Downtrends, Fibonacci Retracement
The price is in a range for quite some time now. There was no moving up or down, but only sideways movement. We are still bearish on this currency pair. Currently, the price is near the 76.4% Fibonacci Retracement and just above the support area. As the price is near the support area, we don't have a trade opportunity right now. We want to sell near the resistance area. Trade well.
Medium term trend: Down
Significant levels: 1.1350 (Horizontal Support), 1.1650 (Horizontal Resistance), 1.1000 (Significant Round Number), Downtrends, Fibonacci Retracement
The price is in a range for quite some time now. There was no moving up or down, but only sideways movement. We are still bearish on this currency pair. Currently, the price is near the 76.4% Fibonacci Retracement and just above the support area. As the price is near the support area, we don't have a trade opportunity right now. We want to sell near the resistance area. Trade well.