Target: 0.6820
Risk: 0.7260
Technical Reasons:
The pair completed forming a double top pattern by breaking 0.7160 level, and it successfully retested this break, to activate the negative effect of this pattern.
The exponential moving averages 50 and 100 support the expected decline, and the pattern’s full targets reach 0.6820.
Stochastic is negative, reinforcing the expected bearish trend on the short term basis.
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Risk: 0.7260
Technical Reasons:
The pair completed forming a double top pattern by breaking 0.7160 level, and it successfully retested this break, to activate the negative effect of this pattern.
The exponential moving averages 50 and 100 support the expected decline, and the pattern’s full targets reach 0.6820.
Stochastic is negative, reinforcing the expected bearish trend on the short term basis.
www.fxhighway.com
www.facebook.com/fxhighwaycom/
twitter.com/
plus.google.com/1054...15961677289743/posts
