The sentiment of the market is still bullish. As it can be noticed from the graphical illustration, the price has nicely broken out of the formed descending channel and has come back down to re-test the broken upper boundary of it. Moreover, it can also be observed that the price has rejected the 50% Fibonacci retracement level and is now building up to continue its growth.
We are setting our initial target at 0.946 area of resistance and patiently waiting for the price action to do its thing.
We are setting our initial target at 0.946 area of resistance and patiently waiting for the price action to do its thing.
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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.