Weekly chart shows the descending trend line on the price chart and RSI is very much intact.
However, note the repeated rebound from near 99-100 levels and the bullish crossover between MACD lines.
Hence, the odds of the pair breaching the descending trendline are high and a much safer short trade would be below 100.00 levels.
However, note the repeated rebound from near 99-100 levels and the bullish crossover between MACD lines.
Hence, the odds of the pair breaching the descending trendline are high and a much safer short trade would be below 100.00 levels.
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Related publications
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.