Earlier breached uptrend (green) line held back the price from going back to the channel's sector. Trading declined below 1.3150/40 support, but the price is currently attempting to ascend again. Trading is carried out at 1.3160/50. Indicators seem to be more "bearish", although they are moving horizontally, suggesting further sideways movement within 1.3210/20 - 1.3080/90 range. 1.3080/70 support breakout will indicate strong "bearish" potential. If trades hold below 1.2900, we'll be expecting a reversal down. 1.3230/20 resistance breakout will be a signal to expect 1.3280-1.3300 levels to be tested anytime soon.
Analysis by: Arkady Nagiev
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.