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From 18.5 the pair has started a new bearish down trend ,but due to the weak NFP number , the pair has reversed from 1.11 ,but last week couldn't break above the 1.14 resistance and started to move back down.
The pair closed at 1.1253 with a slow down move.
Now the pair is in critical position ,where there is a strong possibility that the down trend will continue and it will try to break the 1.11 support ,and if broken a big drop would be expected .
So next week i would be looking to short this pair heavily.
The pair closed at 1.1253 with a slow down move.
Now the pair is in critical position ,where there is a strong possibility that the down trend will continue and it will try to break the 1.11 support ,and if broken a big drop would be expected .
So next week i would be looking to short this pair heavily.
