STILL AIMING LOWER ?
Long term: During the last 10 months the pair keeps moving within a range of 115.00-108.00. As long as we stay in the range,we act accordingly.Major technical sign will be the upwards or downwards break of the above mentioned limits,aiming then 124.00 or 100.00.The pair reached the 105.00 level with profits of 700 pips and reacted. Possible target of this reaction is the 111.00 level.Target accomplished,now looking higher,possibly even up to 114.00.The 114.00 level was never reached,the pair stopped at 112.40 and is now correcting towards the 108.00 area,where the major mid term support stands
Short term: As correctly described in our last two analysis:We can re open short positions aiming 108.00.We can increase short positions at the downwards break of 109.00.Profits received 100 pips.We can now try going long aiming the 110.00 level.
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