On the M30 time frame, prices are approaching the resistance zone at 1.2400 where we could see a reversal below this level. The 1.2400 resistance zone coincides with the graphical resistance zone and 78.6% Fibonacci retracement and descending channel’s resistance. Stochastic is approaching its resistance at 89.84 as well, where we could see a reversal in prices.
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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.