As noted in the previous comments, the breakdown of the 1.5200/40 support gave rise to return to the “bearish” sentiment and marked decline in trading to the first target, mentioned in the last comment - 1.5120. Now the price is at the level of 1.5140/50. The indicators mood forecasts the continuing descending movement and possibly the second target - 1.5050, which was also mentioned earlier, will be reached soon. At the same time the level of 1.5120, - a strong support coinciding with Fibo 61.8 of the previous growth, - may result in long delay or even fall back to 1.5220.

Analysis prepared by:

Arkady Nagiev
Forex4you analyst