DFM Technical OverviewPosted on Wednesday, August 9 2017 at 4:28 am GMT+0000
Having the current trend behavior we believe that long term scenarios will be on hold for the present time, and traders shall refrain from accumulating long positions. And with the market reflecting a weak trend in the medium term, initial support at the 1.14 level is acting as the first level of defense. An active break below that barrier will cancel any further Bullish scenarios and turn focus towards the May bottom of 1.03. At current time only an immediate move above 1.26 could trigger back Bullish momentum and allow for medium term positions.