As it can be inferred from the chart, the price has formed a juicy uptrending parallel channel and has nicely rejected the upper boundary of it. There is certainly more room to the downside from here. Therefore, we are expecting the price to keep dropping and hit the lower boundary of our channel. After the first destination has been reached, we will be looking forward towards opening BUY positions and aiming for the 111.000 price range
Good luck, everyone!
Good luck, everyone!
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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.