On the monthly time frame we see that market has in a couple of weeks ago retested the level around 1.22584 and failed to break it. Price has now currently approached a monthly support level and we are all keen to know what would happen at this point. The possibilities are:
1. Price breaks below this current support level and continues further bearish.
2. Price fails to break below the support level and as such continues in the range !
Lets see how this one plays out, we would take better entries on this pair after it has shown a clear direction, its best to stay out of this one for now.
1. Price breaks below this current support level and continues further bearish.
2. Price fails to break below the support level and as such continues in the range !
Lets see how this one plays out, we would take better entries on this pair after it has shown a clear direction, its best to stay out of this one for now.