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Well, quite a range we have here, although I see the pair still pretty bearish in bigger charts. The 4 hours descendant trend line that you see in the chart, has been well respected by the pair, and today, is in the congestion and maximum’s zone we have @1.2670; indicatorss are quite flat, not giving any clear signal yet price remains also under the 20 SMA, again @ the mentioned zone. Above 1.2680, we could see the pair regain some bullish strength to 1.2700/10, and from there to 1.2745, and i can’t see it much more up today. Regarding supports, these last days thepair has found a lot of trouble to break clearly under 1.2590/2600; under this zone, 1.2555 could be a probable target, with next support at 1.2510 and then 1.2470, that should be pass trough to see the pair gain bearish momentum.
Just a side note: When i call for a break, that doesn’t mean the pair has to pass a resistance or support for a couple or pips: remember I always talk about zones, and not exact points, because we need some confirmations to consider a point broken. I will made may next educative post of how we could filter or consider a line broken.
