This pair has been on a non-stop rise since the beginning of August that only recently exhausted near the 2.00290 1W Resistance. This is most likely a Double Top rejection formation and 1W may form a Rectangle within that Resistance and the 1.82800 Support. With 1W fast approaching neutral levels (RSI = 55.639, MACD = 0.010, Highs/Lows = 0.0299), we are expecting the pull back to be extended and have a (rather wide indeed) Target Zone of 1.87000 - 1.82800. Pay attention to the High Volatility Zone within 1.9080 - 1.94220, which can keep the price sideways for a few sessions.
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Telegram: t.me/investingscope
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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.