The pair is just 9 pips away from the yearly high at 1.1279. Fresh buying will emerge above 1.1279 for an upside target at 1.1400 within strong resistance at 1.1320 levels. This pair is supported by a fall in crude oil prices. The pair has support at 1.0998, below this only, we recommend selling. We recommend fresh buying only above 1.1289 levels. In case if the pair closes above 1.1289 (monthly) in the longer term it can touch 1.1400 and 1.1646 (200MEma). If the pair closes above the upper end of the ascending symmetric triangle, we can expect 1.1646 in the long term. On a weekly basis, the pair will face selling pressure below 1.1220 levels. On a positional view sellers can start selling below 1.1220 for a downside target at 1.1155 and 1.1135 levels.
For an intraday view, the safe buying will be triggered only above 1.1270 and strong momentum, only above 1.1280 for an upside target at 1.1315. For an hourly perspective the pair has support at 1.1244 and 1.1220. Safe selling will be triggered below 1.1210 for a downside target at 1.1186 and 1.1177 levels. The panic will be triggered below 1.1165 towards 1.1129 and the base support of the ascending symmetric triangle.
Trade-
Buy above 1.1270, strong momentum is above 1.1280, targets are 1.12 and 1.1315.
Sell below 1.1210, targets are 1.1186, 1.1177, and 1.1165.
The material has been provided by InstaForex Company - www.instaforex.com
