The trend remains still bearish on the main time frames, but having said that, , as already mentioned in our previous analysis, some corrective structure is possible in the short term.
From a technical point of view, if the pair is able to keep the price below 6.550, a potential 3D PATTERN may appear around 5,900 on H1 chart, and often the next pattern is a HEAD AND SHOULDERS .
OURS KEY LEVELS
- 6.548: above this level, 3D PATTERNwill be deleted.
- 5.900: Bearish TARGET 1 and potential first bullish leg
- 6.115: Potential Right shoulder or TARGET 2
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