The price has uplifted higher than 1.4410, though it couldn’t break through the next resistance at 1.4440/50 and is rolling back downward. The trading is carried at 1.4410/20 i.e., the endurance checkup is fulfilled for the recent resistance like for the support now. The values of the indicators keeping the “bulls” mood in general provide no arguments to presuppose the growth lasting, especially as the level of 1.4450/40 is the strongest possible resistance. The price comeback is obviously the scenario of the most potential probability, and the breakage through the initial version’s line of the short-termed ascendant trend (the blue line) will become the confirmation of the “bears” scenario’s accomplishment. Nevertheless, even if the resistance at 1.4450/40 is over passed the growth higher than 1.4500/10 will be less probable.
Analysis prepared by:
Arkady Nagiev
Forex4you analyst