the market is currently testing the weekly uptrendline on this pair. Whether it will lead to a bounce or break remains a mystery. However, price have been rejected, in the most recent price action, twice at the resistance zone around the 91.600 region. This formed a very firm neckline between 86.760 - 86.100 region. This is clearly visible on the weekly timeframe. You' also notice a double top.
The SHS pattern has painted and the neckline has been broken. The price doesn'y seem to bother to retest the neckline to collect more orders. Observing a continuation pattern would help to jump in and ride the trend.
The analysis actually says alot more than I can be able to say.
The SHS pattern has painted and the neckline has been broken. The price doesn'y seem to bother to retest the neckline to collect more orders. Observing a continuation pattern would help to jump in and ride the trend.
The analysis actually says alot more than I can be able to say.