This pair began a steep decline on 20 Jan that erased more than 2000 pips before finding support at 1.2460 and this only took 74 days to wipe out 143 days of gains. A bear pattern has formed since 3 May at 1.2460 low.This pair is now re-testing the 1.30 price level. A DAILY close below this level is needed to confirm further downside with the first support level at 1.2845, followed by 1.2678 and 1.2460. This pair has also made a lower high compared to July.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.