DEYAAR Technical OverviewPosted on Sunday, January 15 2017 at 6:12 am GMT+0000
Bullish scenarios on the long term remains on hold, as the market is consolidating. While the recent break above the daily top at 0.660 confirmed stronger trending developments in the medium term, raising confidence for further advances targeting the 0.690 and perhaps 0.750 areas. Moving to the hourly timeframe, traders shall treat the recent downside extension as a corrective phase and monitor for an immediate break above the 0.685 intraday top which would confirm the end of such pullback suggesting forthcoming higher moves. Bearing in mind, that a break below the 0.655 level would bring the 0.625 level into view.