Primary trend change direction and become bearish after touching the top level 1.1815, after breaking a support level of Fibonachi Retracement at the 61.8% the pair are on the strong down trend. We can see that the market failed to brake the resistance level 1.0747 of Fibo` Retracement 23.60% and continue down. Secondary trend supporting the primary trend. Minory trand traded in the range between the levels 1.0500 and 1.0400, in immediate trend breaking resistance level 1.0470 of Fibo` retracement 61.8% can push the pair up to the next resitance level 1.0539 of Fibo` retracement 161.8%.
Trends:
Primary Tendency
Primary trend become bearish after touching the top of 1.1815 at 7/3/2007
Secondry Tendency
Secondary trend suport the primary tendency down
Minor Tendency
Minory tend traded on the range
Technical levels:
Resistance:
1.0539
1.0500
Support:
1.0400
1.0355