The instrument is trading at 0.6940 below the Cloud, which suggests a descending trend. Testing of the lower border of the Cloud near 0.6955 is expected, followed by a decline to 0.6885. 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 0.6985, which may be followed by further growth above 0.7055.
Orgin: RoboForex
