DFM Technical OverviewPosted on Tuesday, September 27 2016 at 4:32 am GMT+0000
Bullish advances above 1.38.
The strong downtrend structure remains dominant in the long term obliging traders to stay neutral for the period, monitoring for any change in the broader picture’s direction. The recent decline pushed medium term traders to stay aside, waiting for the validation of a stronger support to confirm the resumption of bullish scenarios, which will be brought about by the break of 1.44. Short term traders will be also provided by a new entry point above the 1.38, with any break above this point raising expectations that prices will move straight forward towards the 1.42 and 1.49 areas. A break below 1.30 would cancel any bullish scenarios and suggest forthcoming lower lows.