The resisting power at 1.4950/60 was enough for the repelling of the first attack of the “bulls” only; because their further attempts have succeeded, and the trading is already carried at 1.5040/50 now. The indicators demonstrate a distinct change of tunes in favor of the growth; and that exactly encourages the expectances of the new resistances’ exercise. Next in the price’s turn is the endurance checkup of 1.5060/65-1.5090, which was considered in the former analysis as a signal for the present situation, for some period of time anyway. The price resides within the sector of the powerful resistances, and the cease in the observe increase may occur in the shortest possible moment, the best for this event likes to be 1.5070/75. The breakage through the resistance at 1.5090 will afford grounds for the presumptions of the ascendant trend’s high potential, which is enough for the returning of the trades till the recent minimum at 1.5200/1.5190.
Analysis prepared by:
Arkady Nagiev
Forex4you analyst