There is no trend in the market and the price is in a range bound, but we forecast beginning of downtrend.
A peak is formed in daily chart at 1.6780 on 01/03/2019, so more losses to support(s) 1.5670, 1.5530, 1.5345 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic...
While the price is below the resistance 1.6190, resumption of downtrend is expected.
We make sure when the support at 1.5275 breaks.
If the resistance at 1.6190 is broken, the short-term forecast -resumption of downtrend- will be invalid.
There is a possibility of temporary retracement to suggested resistance zone (1.5825 to...