The pair is in a slightly buy prevalence behavior considering the Big Tf after the retracement at the Resistance zone (Resistance Zone of the Regression Channel) as indicated in fig 1.
Graphics analysis also seems to suggest the possibility of a secondary bearish and bullish retracements at the support line and at the resistance area related with Pivot Point in Small tf, this can support that the zone between this R2, S2 of Pivot Point in W1 can be considered as a possible trendless objective. This zone can be a possibility for the forecast area of the technical analysis
Linear R Slope indicator, the MFI and the configuration of the Parabolic Sar seem to support the trendless tendency.
LR Intercept and the Regression Channel of the Small tf indicates the slightly bullish tendency .
The monetary decisions of the two countries and the macro releases could indicates the possibility of a support to a trendless behavior , not indicating a prevalence of one on the other.
This analysis suggest that it can be a key level price the secondary Resistance zone in Small tf around the Regression Channel level that could create a trendless zone of forecast.
A bullish or a bearish crossing of the Regression Channel (indicated in fig 2) of the Big Tf can validate a significant bullish or bearish domination.

Good trading to the Dukascopy Community.

FIGURE 1 indicates the Parabolic Sar, the MFI, the LRS, LRI and the tendency in the Big TF.


FIGURE 2 indicates the Parabolic Sar, the MFI, the LRS, LRI and the tendency in the Small TF.
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