By Anton Eljwizat
This pair is showing a price just beginning to ascend out of the over-sold region on the daily RSI, suggesting a momentum shift may be occurring to the latest string of downward movements. The imminent bullish crosses on the daily Stochastic (slow) oscillators also suggest that forex traders may have a great opportunity to catch a trend reversal in action. When the price swings back upward, going long with tight stops could turn out to be highly profitable.
• The next resistance levels are found at the 11.9700 levels
• The next support levels are 11.9300 levels.
Forex Market Analysis provided by ForexYard.
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