The level of 1.5070/75, which was mentioned in the previous analysis as a powerful resistance, has really restricted the “bulls” for some time and instigated rollbacks downward iteratively. Nevertheless, this very resistance has been broken, and now the price attempts to fix itself higher than 1.5090 mentioned as a key on the way upward. The indicators demonstrate the tunes’ steadiness in favor of the growth lasting. It will obviously afford grounds for presuppositions of a sufficient potential of the ascendant trend and also a high probability of the trades’ comeback till the recent minimum at 1.5200/1.5190. However, it will go extra mile and in longer term the trading may increase till 1.5240/60. Still yet, another exercise expects the “bulls” at the powerful resistance at 1.5150/60.

Analysis prepared by:

Arkady Nagiev
Forex4you analyst