- October 31, 2017
- Posted by: range
- Category: FOREX
<img class=" wp-image-2109 aligncenter" src="https://rangeforex.com/wp-content/uploads/2017/10/Screen-Shot-2017-10-31-at-6.00.49-PM.png" alt="" width="661" height="462" />The first arrests made in result of Robert Mueller’s investigation as well as anticipation of the upcoming interest rate hike helped the pair to prematurely break through a massive resistance set up by three moving averages plus the weekly PP at 1.3160.
In general, bulls are expected to try to push the cable to the last Thursday’s pre-fall level at 1.3270. However, today this attempt is likely to be blocked by another resistance level formed by the weekly R1 at 1.3250 and the upper trend-line of an alleged two-month long descending channel.
On the other hand, there is a need take into account effect from release of various American fundamental data later this day, which might either provide an additional impulse for a breakout to the top or drag the pair back to the 100-hour SMA.
<img class="wp-image-2108 aligncenter" src="https://rangeforex.com/wp-content/uploads/2017/10/Screen-Shot-2017-10-31-at-6.01.05-PM.png" alt="" width="634" height="387" />