The technical situation currently favors further declines. Currency pair ended the week around 1.1313 (76.4% fib increases of 1,1216-1,1617), and considering the recent declines, it is possible to undo the correction 1,1336-59 area. After completing local correction, the supply side should push the exchange rate discussed currency pair towards 1.1240 and 1.1216. It is also possible variant of further declines without any correction. In this case, the start of the week we will start further declines towards 1.1216.
Note
Target weekly realized. The currency pair reached the support area at 1.1216
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.