As a result, considerable price slump has occurred ever since the occurrence these patterns and signal further weakness in the minor trend.
While both leading oscillators substantiate indications offered by above-stated patterns.
For now, break below 7DMA likely to drag more price slumps.
Strong supports are seen at $210.6686 (i.e. 7DMA) and $194.782 levels where this pair has acted as in the recent history.
On the contrary, in the major trend, dragon fly is spotted out at $148.920 levels which is in nature.
Consequently, the evidences upswings above EMAs, while technical indicators are yet to confirm the indication although shows little strength in prevailing uptrend on weekly terms.
Current prices jumped above EMAs and likely to extend upswings only upon confirmation from EMAs, and curves.
Aggressive traders can buy on intraday trading terms $235 levels, while major uptrend should wait for the better clarity from both leading and lagging indicators.
Currency Strength Index: FxWirePro's hourly USD spot index is flashing at 63 (which is ahead of today’s US preliminary GDP data print) while articulating (at 06:16 GMT ).