The Friday decrease shaped the center of the symmetric structure. For illustration purposes there’re two rectangles at the histogram – thee appoint the sectors where the chart “reflects” itself at the moment. The daily support level is at 1.6160; thereupon the decrease to the targets at 1.6030 and 1.5950 is presumed.

   Trading recommendations: it’s recommended to sell at the bounces out of the support level at 1.6160 with the mentioned targets and short stops.

Analysis prepared by:

Maxim Dmitrievsky
Forex4you analyst