The price is currently testing the lower boundary of this small corrective channel and is sitting just below the $1.4371 resistance.
After touching the top boundary of the major Rising Channel, the price began a short-term correction, forming a smaller, diagonal Descending Channel (the shaded area).
Bullish Breakout: A decisive break and close above the upper line of the small descending channel, followed by clearing the key horizontal resistance at $1.4371
TARGETS: $1.70 (Top of the major Rising Channel) 2. $1.90 (Psychological resistance)
Bearish Breakdown: A break and close below the lower line of the major Rising Channel
TARGETS: $1.1474 (The primary horizontal support - Green Line)
After touching the top boundary of the major Rising Channel, the price began a short-term correction, forming a smaller, diagonal Descending Channel (the shaded area).
Bullish Breakout: A decisive break and close above the upper line of the small descending channel, followed by clearing the key horizontal resistance at $1.4371
TARGETS: $1.70 (Top of the major Rising Channel) 2. $1.90 (Psychological resistance)
Bearish Breakdown: A break and close below the lower line of the major Rising Channel
TARGETS: $1.1474 (The primary horizontal support - Green Line)
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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.
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.