Volumetric analysis on September 10
Very interesting activity was on Friday. In fact, it was seen how the resistance, which is in the price range of 1,2995-1,3045, did its job, and there is reason to believe that this resistance will remain in power. However, we will expand resistance bands and allocate it at 1.2950-1.3045 price levels. It is a very wide zone, and we suggest to use additional entry points for short trades in case of an upwards correction. Possible target lie at 1.2830. Given the past activity, you can assume quite a serious goal. But we will not move there either in one day.
The pair has a steady downward trend. The breakdown of support and the development of a downward trend, as we discussed earlier, took a place alongside with the interesting volumes. The price range of 0.7135-0.7170 is perceived as resistance, however, the appearance of a price above 0.7170 will not speak of a change in trend. Just assume that this will not happen. The target of 0.7080 could be our priority for long trades, although we will not exclude the continuation of the fall.
In general, we will expect the continuation of what was expected last time. Resistance at 69,35-68,30 still represents interest. Therefore, we consider all the upward movements as correction, and downwards movements as the main tendency. Priority on sales in the area of 68,30-69,35. The goal is seen at 67.20. The appearance of a price above the 69.35 will say that sellers in the market are no longer the main force.
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