This currency trading instrument looks neutral in the medium term. But a closer look at the market shows that the price is trying to go north, as bulls exert their opinion. The next supply zones are located at 171.50 and 172.00. A strong buying pressure will, nevertheless, be needed to exceed the supply zones.
There is now a Bullish Confirmation Pattern in the market, and that would become more important as the price goes further northwards, reaching the supply zones at 171.50 and 172.00 very soon. A movement to the upside would mean bulls reign.
The material has been provided by InstaForex Company – www.instaforex.com