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- Pattern formed -Big M Pattern
- Major support -1.9870 (Jan 29th 2016 low)
- The pair has broken major support 1.9870 and declined till 1.9845. It is currently trading around 1.9863.
- Short term trend is weak as long as resistance 1.9890 holds. Any break above 1.9890 will take the pair to next level 1.9940/1.9980.
- Overall bearish invalidation only above 2.00 level.
- On the lower side any break below 1.9870 will drag the pair till 1.9800/1.9725.
It is good to sell on rallies around 1.9855-1.9860 with SL around 1.9900 for the TP of 1.9800/1.98725.
