As it can be observed from the H4 timeframe chart, the price has formed a triple top and nicely rejected the 0.959 area of resistance, which means the price will most likely continue dropping. At the moment, we can see that the price is pulling back and approaching the previously broken local zone. From there on, we will be opening short positions and aiming for the zone of support pictured on the graph.
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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.