Growing divergence after hitting the weekly barrier at 8.5290 suggests sellers are returning again. Expect a breach of the trend line and a correction back to 8.3000, 8.1570 and roughly 8-even over the next days and weeks.
Although the longer term is more or less neutral, broader USD weakness does support an aggressive short-entry strategy.
Near term trend: neutral
Long term trend: neutral/slightly negative
Outlook: correction, moderately negative
Strategy: avoid or aggressive short-entry
Support: 8.3000 / 8.1570 / 8.0050 / 7.8600-
Resistance: 8.4775 / 8.5290 / 8.66+
Outlook cancelled/neutralized: above 8.4775
Although the longer term is more or less neutral, broader USD weakness does support an aggressive short-entry strategy.
Near term trend: neutral
Long term trend: neutral/slightly negative
Outlook: correction, moderately negative
Strategy: avoid or aggressive short-entry
Support: 8.3000 / 8.1570 / 8.0050 / 7.8600-
Resistance: 8.4775 / 8.5290 / 8.66+
Outlook cancelled/neutralized: above 8.4775