By
Deltastock |
Signals | Oct 20, 2011 11:20AM GMT |
The pair is in a downtrend from 1.6616 high. Technical indicators are descending and trading is situated below the 50- and 200-day SMA, currently projected at 1.6209 and 1.6098.
Yesterday's second test of 1.5853 high has failed and the pair is still in the consolidation pattern below that resistance area, so my outlook continues to be bearish for 1.5630, en route to 1.5495.
| Resistance |
| support |
|
| intraday | intraweek | intraday | intraweek |
| 1.5785 | 1.5890 | 1.5630 | 1.5330 |
| 1.5853 | 1.6075 | 1.5495 | 1.4950 |
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