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PAIR ANALYSIS :
The chart analysis of the pair suggest a bullish tendency considering the position of the price level and the SMA 200 and SMA 9 behavior.
Linear Regression Slope indicator, the Money Flow Index and the configuration of the Parabolic Sar seem to support the possibility of a buy speculators domination.
The chart analysis also seems to suggest the possibility of a secondary bearish retracement at the resistance zone related with Pivot Point (R3) in W1.
Intercept of the Linear Regression and the Regression Channel in Fig 1 at the W1 scale express the opportunity of the force of the buy behavior supporting the indications of the previous arguments.
The macro economy releases related with the two countries could guide to add some bullish speculations.
A bullish crossing of around 17 Pips of the R3 in D1 could endorse the bullish domination, on second thought a bearish crossing of about 19 Pips could approve the sell opportunity back.
In this technical context any retracement of the SMA 9 on the SMA 200 can be utilized as a possibility of entry in buy.
The chart analysis of the pair suggest a bullish tendency considering the position of the price level and the SMA 200 and SMA 9 behavior.
Linear Regression Slope indicator, the Money Flow Index and the configuration of the Parabolic Sar seem to support the possibility of a buy speculators domination.
The chart analysis also seems to suggest the possibility of a secondary bearish retracement at the resistance zone related with Pivot Point (R3) in W1.
Intercept of the Linear Regression and the Regression Channel in Fig 1 at the W1 scale express the opportunity of the force of the buy behavior supporting the indications of the previous arguments.
The macro economy releases related with the two countries could guide to add some bullish speculations.
A bullish crossing of around 17 Pips of the R3 in D1 could endorse the bullish domination, on second thought a bearish crossing of about 19 Pips could approve the sell opportunity back.
In this technical context any retracement of the SMA 9 on the SMA 200 can be utilized as a possibility of entry in buy.
