As it can be inferred from the chart, a nice channel has been created and the price is currently consolidating at the upper boundary of it. We are expecting for the price to reject the local zone and drop all the way till the lower boundary of the channel. While our general bias remains bullish for this pair, a short-term correctional move is needed before bullish moves resume.
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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.