The pair is in an all time high and has formed a strong resistance level. I expect a bounce back from the resistance line and touch to the support. The market will bear more confidence if the price breakout the support and test it once or more. Of course, it will not explode without a test back, but a possible bull move is not unlikely. I think shorting right now is not the best idea. If we see breaking the first support and reaching out the second one we might think of a probable deeper slump if and only if the price slumps under the 2nd support 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.