The instrument is trading at 1.3061 inside the Ichimoku Cloud which suggests a sideways trend. Testing of the upper border of the Cloud near 1.3070 is expected, followed by a decline to 1.2955. Yet another signal of decline may be a bounce off the upper border of the descending channel.
The scenario may no longer be valid in case the upper border of the Cloud is broken and trading closes above 1.3120, which may be followed by further growth to 1.3195.
Orgin: RoboForex
