These technical outlooks are NOT trade ideas, they are simply technical analysis to give traders a DIRECTIONAL BIAS on the day.
Good evening traders!
This pair starts off the 2017 year with consolidation, however looking left at the down move off the 87.54 high shorting opportunities are still preferred.
The consolidation range begins at the low at 83.75 and spans up to the higher end of the range at 84.87.
As long as price remains below the 84.87 figure further downside can be expected and it is preferred to looking for shorting signals near the upper end of the consolidation range.
I hope this offers a directional bias for traders on this pair. Enjoy!
Good evening traders!
This pair starts off the 2017 year with consolidation, however looking left at the down move off the 87.54 high shorting opportunities are still preferred.
The consolidation range begins at the low at 83.75 and spans up to the higher end of the range at 84.87.
As long as price remains below the 84.87 figure further downside can be expected and it is preferred to looking for shorting signals near the upper end of the consolidation range.
I hope this offers a directional bias for traders on this pair. Enjoy!
