In reliance upon the main prediction published the former week the pair continued its retracing growth having renovated the previous lows a little. Considering the estimated target hasn’t been reached yet the level exercise at 1.4485\90 in the shortest prospect should be expected; thereupon the further creation of the descendant structure with the primer target at 1.4214 is presupposed; in case of the successful fixation lower – so called “clean air” and the absence of the significant resistances till 1.3800 are presumed – that is also seen at the daily time-frame.
Analysis prepared by:
Maxim Dmitrievsky
Forex4you analyst