The pair has reached a major resistance on the daily following the recent bull uptrend. If resistance holds strong a retest of first support is possible for the bulls to load back up in attempt to make a push through the top resistance. Of the support does not hold a retest of bottom support is possible. This would present a great buying opportunity from that level if it was to continue in a straight channel.
RSI and MACD indicators are set for a sell off of some sort if top resistance hold. If top resistance does not hold look for that first retest and continuation off next resistance.
Please comment with any thoughts and ideas. Thank you.
RSI and MACD indicators are set for a sell off of some sort if top resistance hold. If top resistance does not hold look for that first retest and continuation off next resistance.
Please comment with any thoughts and ideas. Thank you.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.