Price is generally in an uptrend and following a clear rising wedge.
At the moment it has come to the support line of the wedge as well a support level.
Price may breakout the structure to start a downtrend or may bounce and continue with the trend.
I would suggest to stay out of the trades for the pair for a moment and wait for a clear breakout or reversal to go short or long respectively.
Share your views on the pair in the comments section.
At the moment it has come to the support line of the wedge as well a support level.
Price may breakout the structure to start a downtrend or may bounce and continue with the trend.
I would suggest to stay out of the trades for the pair for a moment and wait for a clear breakout or reversal to go short or long respectively.
Share your views on the pair in the comments section.
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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.