The apprehensions concerning the probability of the price rollback downward out of 94.60/70 already were grounded. The price lowered down till the support at 93.80/70, which was mentioned in the previous analysis. The indicators’ values changed their direction to the descending one and now they’re speaking about the probable exercise of the bottom edge of the supporting range i.e., 93.40. There’s a probability of the beginning of the retracement within the lateral corridor, which is restricted with 94.60/70 and 93.40 under the current circumstances. If these presumptions come true it’ll become obvious that the further prospects are on the “bullish” development. Meanwhile, the steady falling down and also the fixation of the price lower than the support at 92.80/85 will determine the great doubts in the power and potential of the ascendant trend.

Analysis prepared by:

Arkady Nagiev
Forex4you analyst