The pair is still in a valid uptrend owing to the fact that price is contained above the ascending trendline and a series of Higher Lows are continually being formed. It is important to note that price is also moving within a countertrendline hence is in a triangle like containment zone. Here two instances might occur:
A) A break above the CTL and recent swing High will lead to price testing the Monthly Resistance and in turn forming a triple top on that point.
B) A third touch on the CTL, price rejection and the ascending trendline being broken. 1.21816 is critical in paving way for the bears
All in all exercise proper risk management and do what price action reveals to you
Yorum:
TARGETS ATTAINED