Resistance - 109.45, 110.00, 110.67
Support - 108.23, 107.84, 107.66
Pair's rejection at trend line resistance on Friday followed by a weak closing (forming a bearish inverted hammer) indicates a temporary top in in place at 109.56 levels. This could translate into a drop to 108.23 levels , which if breached shall open doors for 107.66, which is likely to be defended.
On the higher side, only a day end closing above 110.00 (falling trend line resistance) would signal continuation of rally from the low of 105.55.
Support - 108.23, 107.84, 107.66
Pair's rejection at trend line resistance on Friday followed by a weak closing (forming a bearish inverted hammer) indicates a temporary top in in place at 109.56 levels. This could translate into a drop to 108.23 levels , which if breached shall open doors for 107.66, which is likely to be defended.
On the higher side, only a day end closing above 110.00 (falling trend line resistance) would signal continuation of rally from the low of 105.55.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.