Open trading account 
Monthly chart:
The pair is in uptrend since 2011. It broke 200 month SMA in January and then traded around 50.0% retracement (of the January 2002 to November 2007 decline) for nearly three months. On April 15th the pair broke back down and, after brief pause above 200 month SMA, it continued lower to clear stops below 1.20 level. The confluence of the broken trendline (drawn off July 2003, May 2004 and March 2009 highs) and 38.2% retracement should now offer some support ahead of 20 month SMA.
W…
The pair is in uptrend since 2011. It broke 200 month SMA in January and then traded around 50.0% retracement (of the January 2002 to November 2007 decline) for nearly three months. On April 15th the pair broke back down and, after brief pause above 200 month SMA, it continued lower to clear stops below 1.20 level. The confluence of the broken trendline (drawn off July 2003, May 2004 and March 2009 highs) and 38.2% retracement should now offer some support ahead of 20 month SMA.
W…