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the pair has move the range trading a bit higher, and now seems contained above the 1.2800 zone, yet respecting yesterday’s descendant trend line. I mark in blue a probable target zone for today or maybe tomorrow, as that trend line @ 12830 will be the level to watch: If the pair rebounds there, a new bullish upleg will be developing, yet under it, the pair could quickly regain bearish strength. From actual 1.2900 zone, and with no clear definitions, under 1.2862 the pair will try to test the line, and if broken, next targets will be at 1.2790 and 1.2740. Resistances will be at 1.2908, and 1.2942; a confirmation above it will probably approach us to the 1.3000 zone, and leave the chart pointing for further upside moves. Take a look at the 200 EMA: quite flat, loosing bearish steam; too early to say, but it could turn downside up if the pair manages to break above the 1.3110 first longer term resistance.
your write up is really helpfull thanks
Thanks Ola, i always do, and always try to do my best!