Pair analysis for this week.
Price got supported in major zone, which acts now as a support after being broken before. Price also broke downtrend structure and went on bullish rally making new higher highs. Now price is reaching a minor resistance zone. Price have not successfully gone through this zone, so a reversal structure may be appearing on the following days, indicating the start of a possible price correction ( retest). As price has just reached this minor zone once, we still have to evaluate this zone and wait for the confirmation and see if price fails to get through the minor resistance zone.
What do you guys thinks will be happening?
Price got supported in major zone, which acts now as a support after being broken before. Price also broke downtrend structure and went on bullish rally making new higher highs. Now price is reaching a minor resistance zone. Price have not successfully gone through this zone, so a reversal structure may be appearing on the following days, indicating the start of a possible price correction ( retest). As price has just reached this minor zone once, we still have to evaluate this zone and wait for the confirmation and see if price fails to get through the minor resistance zone.
What do you guys thinks will be happening?