I made good profit last week from this pair. The price rebounded as expected at 1.65 at a strong support level
. I think this marked the end of the downtrend, if this pair would have continued the downtrend the price would have fallen below that support level
. The rebound was a clear buy signal for me. Also my resistance line was broken and now serves as a support.
I expect the price to rise significantly in the upcoming week.
Possibly breaking 1.69 resistance and reaching 1st May highest price 1.72
Next week is the first week of the month and we have a lot of economic data realeased which will strongly affect the market.
This is only a technical analysis