- November 4, 2018
- Posted by: gmiadmpanel
- Category: News
In the previous week our trade idea was to sell this pair and we got the move down as expected. It reached the levels of 1.1295-1.1300 and turned around. However it doesn’t seem to be a long term trend reversal. Our long term downtrend target is around 1.10500 – 1.1100 zone from where the future trend of this pair will be re-assessed.
In the meanwhile we are expecting a short term upside correction or it can stay in between the range from 1.1290 to 1.1460 & 1.1530 in extension.
So the possible short term upside targets are 1.1460 & 1.1530 from where we can see the continuation of the downtrend.