The pair continued to extend lower during its last trading week and nearing to its last leg completion of the Double Three(WXY) corrective structure. Going ahead prices are likely to hold above 1.2370 on further weakness and recover towards 1.29 in coming weeks.
Although I was expecting the pair to reverse from 1.2500 but it continued to extend lower for its 5th downside leg which is likely to conclude in the coming week.
In my previous outlook( Medium Term) I was expecting a pullback towards 1.2350 where the pair found support during its last trading week.
Although I was expecting the pair to reverse from 1.2500 but it continued to extend lower for its 5th downside leg which is likely to conclude in the coming week.
In my previous outlook( Medium Term) I was expecting a pullback towards 1.2350 where the pair found support during its last trading week.
