The predictions of the price’s exercise of the supports at 1.3640/50 mentioned in the previous commentary were justified. The pair has marked itself at this level and renewed the increase; it resides at 1.3680/90 now. Nevertheless, the indicators’ mood maintains the “bearish” preferences, and that may denote the renovation of the price decrease. The signal will be another decrease and fixation of the trades lower than 1.3670/60. If it happens so another endurance checkup of 1.3640/50 may be completed with the breakage and the renovation of the mid-term trend downward together with threaten of the local minimums’ exercise at 1.3550/40 and further 1.3500/1.3450 as well. Meanwhile, the “bullish” variant of the events’ development is still on the agenda with the probability of the price increase till the new local maximum at 1.3820/30.

Analysis prepared by:

Arkady Nagiev
Forex4you analyst