The market has confirmed the presumptions made before, in the former analysis as the price broke through the resistance at 0.9040/50 – 61.8 per cent Fibo and fixed itself higher than 0.9065/70; it’s checking up for endurance the target i.e., the resistance at 0.9150/60. The indicators maintain their ascending direction though, but with dull dynamics, which encourages the doubts in the “bulls” power. It’s obviously reasonable to set mind on the massive rollback downward. Moreover, the collapse out of the current levels of 0.9150/60 till 0.9110/00 may be rapid and quick. The growth lasting will have come across a powerful resistance at 0.9170/90 already.

Analysis prepared by:

Arkady Nagiev
Forex4you analyst