The price has broken through the resistance at 0.9040/50 – Fibo 61.8 per cent as, in general, it had been presumed in the previous commentary, but it failed to fix itself above and came back downward. The trading is carried at 0.9020/30 now; however it has been at 0.9000/0.9080 before. The indicators begin to get back the values in favor of the increase since the reversal downward. The ‘bull” will obviously demonstrate one more attempt to increase and fix higher than 0.9040/50. Furthermore, everything will come true following the before mentioned predictions – if it happens so the exercise of the resistance at 0.9150/60 will queue up. By the way, the decisive moment in the circumstances concerned and if taking into account new matters will be the price fixation higher than 0.9065/70. Otherwise, the failure will determine the comeback to 0.8800.

Analysis prepared by:

Arkady Nagiev
Forex4you analyst