The 1.5600 figure remains a strong support: last week the bears failed to pull lower. In the coming days we forecast the recovery towards the upper border of the Cloud. Watch the resistance at 1.5760.
Oscillators could also signal a corrective recovery. However, the major bearish trend still remains active.
Technical levels: support – 1.5600; resistance – 1.5700, 1.5760, 1.5875.
Trade recommendations:
1. Buy — 1.5700; SL — 1.5680; TP1 — 1.5760; TP2 — 1.5875.
2. Sell — 1.5640; SL — 1.5660; TP1 — 1.5500; TP2 — 1.5410
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