The instrument is trading at 0.6982 below the Cloud, which suggests a descending trend. Testing of the lower border of the Cloud near 0.7000 is expected, followed by a decline to 0.6905. Yet another signal of decline may be a bounce off the lower border of the ascending channel.
The scenario may no longer be valid in case the upper border of the Cloud is broken and trading closes above 0.7035, which may be followed by further growth above 0.7095
Orgin: RoboForex
