The instrument is trading at 0.7006 above the Cloud, which suggests an ascending trend. Testing of the upper border of the Cloud near 0.6990 is expected, followed by growth to 0.7105. Yet another signal of growth may be a bounce off the upper border of the descending channel.
The scenario may no longer be valid in case the lower border of the Cloud is broken and trading closes under 0.6945, which may be followed by a further decline below 0.6865. The growth will be confirmed, if the price breaks through the resistance area and trading closes above 0.7055.
Orgin: RoboForex
