Good start trading week Good start of trading week at all, I propose the analysis version on this couple, because it is present in my weekly watchlist!
Good reading to everyone.
W1 = Starting from the weekly chart we can see that prices are supported by a long-term trendline, despite the double maximum on resistance (red)...
In my opinion when price reaches the 95.000 or 89.000 the price should show signs of reversal indicating a possible bullish run. As you can see at the date 07/12/2017 prices made its bullish run from that point 95.000. Will history repeat itself?
If support holds we may see bullish price action towards upside target 1- then then target 2
However if we get a break of the ascending trendline we could see bearish price action towards downside target one