These technical outlooks are NOT trade ideas, they are simply technical analysis to give traders a DIRECTIONAL BIAS on the day.
Good evening traders!
Price remained below the 1.2388 resistance figure mentioned in the previous technical outlook and the formation of a lower high at 1.2307 is confirming that the pressure is still to the downside.
The directional bias is now to the downside as long as price remains below the 1.2307 resistance and shorting opportunities will be preferred.
Spike low held the 1.22 support figure which may bring in buying if sellers do not come in soon with another attempt at the break.
A sustained break below the 1.22 support figure will be required to open up another push lower.
I hope this offers some directional clarity on this pair.
Enjoy!
Good evening traders!
Price remained below the 1.2388 resistance figure mentioned in the previous technical outlook and the formation of a lower high at 1.2307 is confirming that the pressure is still to the downside.
The directional bias is now to the downside as long as price remains below the 1.2307 resistance and shorting opportunities will be preferred.
Spike low held the 1.22 support figure which may bring in buying if sellers do not come in soon with another attempt at the break.
A sustained break below the 1.22 support figure will be required to open up another push lower.
I hope this offers some directional clarity on this pair.
Enjoy!
