The predictions mentioned in the previous analysis concerning the continuation of the growth were justified as the price has not only exercised the new local maximums at 1.5230/50, but also exceeded them thereupon some break – as follows, the trading is carried at 1.5330\40 now. The indicators firmly demonstrate the growth lasting. Meanwhile, there’s a very powerful resistance at 1.5350/70 on the way of the “bulls”, which is able enough to stop the increase. If this obstacle is surmounted the grounds will appear to consider the potential of the ascendant trend to be very massive and also to expect the endurance checkup for the nearest powerful resistance since 1.5370/50, which is at 1.5420; and further the range between 1.5500-1.5530 as well. Otherwise, the failure of the breakage will denote the consolidation within the sector of the levels already achieved up to the current moment.
Analysis prepared by:
Arkady Nagiev
Forex4you analyst