The single currency rocks in a tight range trading for the past 2 weeks now. Next week will break the pair out of the ranging. The week is very important to us because the Central banks Conference is scheduled then & increase in volatility is also to be expected.
if the pair is to break to the upside.then on the downside,our trend index indicate the area of 1.3000-1.2985 as a strong support & must be hold for the single currency to break to the upside & rallied towards 1.3260-3380 area and above.
Contrary,if the pair is to break to the downside,we have a strong resistance at 1.3090, which if holds & price breaks 1.3000 then the bias should be to the downside targeting 1.2750 area and below.
We are to see clear direction upon the closing of the market on 1st May before the ECB press conference on 2nd .
............. Good luck & safe trade.
if the pair is to break to the upside.then on the downside,our trend index indicate the area of 1.3000-1.2985 as a strong support & must be hold for the single currency to break to the upside & rallied towards 1.3260-3380 area and above.
Contrary,if the pair is to break to the downside,we have a strong resistance at 1.3090, which if holds & price breaks 1.3000 then the bias should be to the downside targeting 1.2750 area and below.
We are to see clear direction upon the closing of the market on 1st May before the ECB press conference on 2nd .
............. Good luck & safe trade.
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