The massive ascending channel is still in play and it makes the price action look absolutely magnificent. The 1.294 key zone has been nicely rejected and a massive bearish candle has been printed. This alone (and a bit of intuition) gives us enough confidence that the price will keep plummeting to the downside and reach the area of the lower boundary of the channel illustrated on the graph and potentially drop even below that and visit the area of support plotted on the chart.
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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.