Medium-termtrend: Bearish
The bear market is continuing. The price has already reached the target zone №1 0.96853-0.95997 and it has a potential to reach the target zone №2 0.95484-0.95375. The best prices to try to have a short position are the control resistance zone 0.97401-0.97288. In case of the price is fixed upper the control resistance zone the medium-term trend will be changed to the bull market and all short positions should be closed.
Trading recommendation:
It’s recommended to try to have a short position near the control resistance zone 0.97401-0.97288 (130 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.
The bear market is continuing. The price has already reached the target zone №1 0.96853-0.95997 and it has a potential to reach the target zone №2 0.95484-0.95375. The best prices to try to have a short position are the control resistance zone 0.97401-0.97288. In case of the price is fixed upper the control resistance zone the medium-term trend will be changed to the bull market and all short positions should be closed.
Trading recommendation:
It’s recommended to try to have a short position near the control resistance zone 0.97401-0.97288 (130 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.