currency pair movement [main scenario]
Movement of the pair is changed to the descending trend, Tenkan and Kidzhun lines are bound above the price, the price is moving below the descending cloud, the further descending movement of the pair is expected. We should sell the pair below the 1,2586 resistance level, and set Take Profit at the 1,2555, 1,2530, 1,2500 support levels.
currency pair movement [alternative scenario]
If the pair succeeds to break through and get fixed above the 1,2586 resistance level, in such a case the further movement of the pair in the ascending trend till the 1,2610, 1,2630 resistance levels is possible.
Resistance: 1,2586; 1,2610; 1,2630.
Supports: 1,2555; 1,2530; 1,2500.
Published On Fri, Oct 31 2014, 08:38 GMT