Likely bottoming but be careful

Despite the overall bearish trend starting to lose momentum and all the signs of a bottoming formation being presented it would be wise to remain careful as there is still a chance for one more low on diagonal support @ 0.844. Whether or not this will happen is anybody's guess but for now, all we can do is trade the levels. As such; any move below 0.851 (WS1) will likely see the test of the lower diagonal and any move above 0.858 will possibly see a move higher towards the Monthly R1 @ 0.864. Any definitive break above this will be very bullish.