Main scenario:
The pair is trading along an sideways trend with creation of trend turn down pattern "head and shoulders".
An downtrend will start as soon, as the pair drops below support level 1117, which will be followed by moving down to support level 1108.
Alternative scenario:
The uptrend may be expected to continue in case the market rises above resistance level 1122, which will be followed by reaching resistance level 1129.
All information provided by Anton Kolhanov is for informational purposes only. Information provided is not meant as investment advice nor is it a recommendation to buy or sell any trading instrument. Anton Kolhanov is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained. You should do your own thorough research before making any investment decisions and seek advice from an independent financial advisor.
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