Weekly closing below the levels of central support - the current resistance - around 111.60 which is the main reason why we say that the numbering waveform is still effective, as the third wave of internal wave B the largest currently under formation. Consequently, we see opportunities to visit the existing levels of support between 109.50 and 109.05. RSI 14 are not still has to achieve the objectives of falling after a break of support level upward trend. From here, we expect a potential downward trend for the week.
The trading range for this week may be between the level of support and resistance level at 108.45 114.70
Falling short term trend down and goal at the 97.90 level steadily 132.50
Support 110.50 110.00 109.50 109.05 108.45Resistance 111.60 112.10 112.80 113.15 113.60
Recommendations Based on the above chart we believe that selling the pair around 111.60 and 109.05 target and stop loss above 113.65 would be appropriate
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