Currently market is moving in ascending channel also has reach ascending resistance as well as resistance of the channel in addition to this market is over bought RSI is at 74.
A great selling opportunity is on the card.
Market is currently on strong support level. In recent time there was a sell trend. Now i am looking for reversal in this pair.
We will also be looking for 1.20800 area for another level of reversal.
After uncertain condition of this pair.
Here is the look of monthly Chart.
1) Market is currently on strong ascending support.
2) Market was moving in descending channel for a long time. Channel has been broken and now it has retested its support level which was its previous strong resistance .
So keeping in view these points i am expecting to reversal of...