Despite pair’s bullish break from triangle pattern caution is warranted since the pair is nearing a critical resistance area around 116.00 handle… that too at a time when hourly and 4-hr indicators are overbought
Hence, we could see a usually shakeout post Breakout i.e. re-test of triangle support around 114.85 before a convincing break above 116.00 happens.
Hence, we could see a usually shakeout post Breakout i.e. re-test of triangle support around 114.85 before a convincing break above 116.00 happens.
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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.