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Key Zones– 1.0861,1.0636,Support and 1.1137,1.0983 Resistance
Price Action– Smal bearish Pin.
Commentary. Our yesterday commentary, we anticipated the formation of a bearish pin bar in the near term giving the dominant bearish momentum in the recent time. There is a high probability of continuation of the recent downtrend bias.
The next key support is at 1.0636 zones.
Key Zone– 69.93, 69.17 resistance, 65.50,64.89 supports
Price Action– Fakey Setup.
Commentary– The pair formed a bullish fakey setup today after the inside bar that was formed last Friday. The dominant trend is bearish. The present rally is more like a retracement in the midterm. We anticipate that the bullish fakey formed my be a bearish trap given the dominant market condition.