DFM Technical OverviewPosted on Wednesday, November 15 2017 at 5:46 am GMT+0000
Having in mind the given neutral outlook, long term positions remain on hold at present time while waiting for stronger trending characteristics to appear on the weekly charts. The medium term bias remains clearly tilted to the downside after a retest of the 1.08 low. Although the 1.08 October low has shown first signs of support, daily Bullish pattern would be needed before ruling out any further extension lower towards the 1.03 May low. Such reversal can only be confirmed with an immediate rise above 1.20.