The spot rate has broken the intermediate resistance of its medium term bearish channel in the point 1.3190 resulting in acceleration. A pullback on these levels is expected before the bullish movement will has been resumed and reach the upper limit of its channel 1.3300.
Technical indicators provide signals for SELL-deals supporting the assumption of a pullback in the neraest future. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.
According to the previous situation, the market indicates a bullish opportunity at the 1.3190 level with 1.3250 and 1.3270 seen as first objectives. A breakdown of the level 1.3170 will invalidate this scenario.
