The pair has been trading inside a 12-month long Channel Down pattern on 1M (MACD = -0.013, B/BP = -0.0366) and the neutral RSI = 45.338, Highs/Lows = 0.0000 indicate that we are close to a bearish reversal point following the rise since the beginning of the year. The Channel's Lower High was placed earlier in December and we have a long term bearish leg ahead of us in search of the Lower Low. As measured, this should be within 0.85239 - 0.85750. However we are following a more sensible medium term TP of 0.8900 (the previous Lower Low).
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Telegram: t.me/investingscope
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Over 65% accuracy on Private Signals Channel.
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investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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.