The currency pair showed sustained bullish momentum over the past weeks, forming higher highs and higher lows. However, recent price action broke below the ascending trendline and failed to retest previous highs, indicating waning bullish strength. The break of support suggests the uptrend has been invalidated, with increasing risk of a bearish reversal or short-term correction.
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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.