Investors like you may be wondering this pair's movement in the following week. From a technical outlook, you would agree that it has a downward bias. Having said that, we are interested in looking at when this downward bias will come to a pause.
Based on our forecast, if the momentum continues, we could potentially see this pair reach the first of 1.2250, and if this level cannot provide the necessary support, we are also watching 1.2160 as the second , followed by 1.2060 which the third . If this pair reacts at 1.2250 and starts to rebound, then we could potentially see this pair to test 1.2420-60 area as our first level of resistance, and if this pair takes out this first , we will also be watching the second at 1.2520.
We will monitor the price movement of this pair and provide the necessary update accordingly.
27 Jan 2018
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