The predictions mentioned in the previous analysis concerning the pair was liable to decrease were confirmed. The price exercised 1.4990/80, which were considered as key ones on the way downward, but returned upward as failed to get over them. The trading is already carried at 1.5100/10 now. The indicators denote the change of mood in favor of the increase with the R% values only still yet as it has reversed upward; the rest of the indicators depict neutrality to greater extent. The confident footstep of the “bulls” and the probability of the fixation of the trades higher than 1.5090/1.5100 afford quite not bad grounds for presuming the comeback to the ascendant trend with the risks of the exercise of the new local maximums in the relatively nearest future. So, the fixation higher than 1.5095/00 and further the breakage through the range between 1.5160-1.5100 will denote the probability of the exercise of 1.5230/50 in the shortest run. Otherwise, the return downward, lower than 1.5060/40 will determine the renovation of the “bearish” trend.

Analysis prepared by:

Arkady Nagiev
Forex4you analyst