2017-05-20
On the Daily chart this pair is still bullish, up trend. Current price action has pulled back to fib 50% and with RSI almost over sold a turn is likely. I'd predict that the price action will make it down to 61.8% fib before resuming bullish trend. First target would be resistance at 1.37898 with longer term FIb Future D at 1.41376. Likely at least one pull back before reaching that which could be around resistance.
If the current price action makes it down to 1.34419 and reverses then this is a strong indication for trend continuation and the Future D target likely.
On the Daily chart this pair is still bullish, up trend. Current price action has pulled back to fib 50% and with RSI almost over sold a turn is likely. I'd predict that the price action will make it down to 61.8% fib before resuming bullish trend. First target would be resistance at 1.37898 with longer term FIb Future D at 1.41376. Likely at least one pull back before reaching that which could be around resistance.
If the current price action makes it down to 1.34419 and reverses then this is a strong indication for trend continuation and the Future D target likely.