Monthly: The long-term bias remains . With the 50% pullback level at 1.8088 (from 2.0970-1.5205) lining up with the , this is the obvious upside target (barrier). With last month’s Marabuzo level located at 1.7200, and bespoke support at 1.7180, we look for limited downside.
Weekly: The most important factor in this timeframe is that the current trading zone has been pivotal from Q3/Q4 2014 and Q3 2016.
Intraday (four-hours) – The most important timeframe in this counter trend forecast. Looks to be forming a pattern. We have posted a 13 on the . Bespoke resistance is located at 1.7568. As long as we fail to post a weekly close above this important resistance, the outlook is negative.