On H4 the pair has formed a Hammer, testing the area around the lower border of the channel. We are contemplating the signal of the reversal pattern start realizing. We may suppose that a bounce off this level may bring the price back to the area around 1.3333. However, another variant is not excluded: the reversal pattern may not be realized, and the flat may be followed by a decline near 1.3215.
On H4, the pair has escaped the descening channel. The quotations keep moving in a range, forming reversal patterns, including Doji. In relation with the previous movement, the price, upon the completion of the flat, may decline. The goal is still at 0.6700. However, a contrary variant of growth to 0.6868 may not be excluded.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.