Last week’s analysis was profitable for traders. I wrote: “current goal for bears is 1.9480 level” and “if price tests 1.9480 level, rebound will occur. After rebound resistances are at levels: 1.9730, 1.9890”.
In fact price moved 20 pips above indicated level and rebound occurred. Upward movement finished at level 1.9830. Monday begun with a sharp falls and support at 1.9480 didn’t cause demand reaction. Next supports are located at 1.9280, 1.8970. Currently it is likely that 1.9480 level will be tested from the bottom and if demand is still weak new wave of falls will occur after that test.
Time-frame D1
