Further vision

In fact, we are in a suspended state, as the range level of 1.1510-1.1550 keeps the quotation, but the sellers indecision is off the scale. At the moment, the focused is on the position of "Sit on the fence". We are already at the lower boundary of the range level and probably will soon be "hot."

What are the trade recommendations?

It is recommended to allocate positions on sale. It is worthwhile to keep clear fixations outside the range level below 1.1510 and to place pending orders there. The outlook is a primary decline to the periodic level of 1.1440 with a further move to 1.1300.

Otherwise, the scenario will not change and we will remain holding the range 1.1510 / 1.1650.

Indicator analysis

Analyzing the different sector of timeframes (TF), we see that the indicator analysis is inclined to sell, but, I repeat, we will speak about any significant movements only after fixing below 1.1510.

Key Levels

Resistance zones: 1.1650 *; 1.1725 *; 1.1830 *; 1.1900; 1.2100

Support zones: 1.1550 ** (1.1510 / 1.1550); 1.1440; 1.1300 **

* Periodic level

** Range level

*** We sit on the fence - slang expression, we are out of the market

* The presented market analysis is informative and does not constitute a guide to the transaction.