EN Weekly Analysis

٩ يوليو ٢٠١٨

The pair is currently in range bound. It has printed a strong Pin bar reversal signal on the resistance 1.725 region. This indicates the pair has found strong resistance at the upside and would reverse its direction to challenge the downside at 1.67. However the previous weeks has been extremely bullish as it printed strong bullish candlestick. This signify that the bullish momentum is strong and the pair would likely retrace the bullish candlestick before it rechallenge the upper range. The downside target would be 1.6975 region where it lies between the EMA 21 & EMA 8.
Bias
Long-term: Long
Short-term: Short