These technical outlooks are NOT trade ideas, they are simply technical analysis to give traders a DIRECTIONAL BIAS on the day.
Good evening traders!
This pair staged a sharp recovery off the 116 lows in the latter days of the 2016 year, however a sustained break above the 118.24 resistance level is required to clear the way to the previous swing high and the possibility for new highs.
Below 118.24 see lower pricing.
A break below key support at 117 is required to expose any further downside on this pair.
I hope this offers some directional clarity on this pair.
Wow! This pair was amazing to watch today. Got pulled away when that double top happened earlier...was going to short 1/2, then another 1/2 on the 118.24 breakdown.