Exit from consolidation provokes distribution and price growth by 1%, the daily ATR is exhausted. The currency pair is forming a false breakout of resistance. The retest of the zone of interest 0.8526 and price consolidation below the level may provoke distribution
Scenario: there is no potential for growth continuation beyond 0.8538. The distribution ends with a false break of resistance and price entry into the selling zone. Consolidation under 0.8526 will confirm the break of the structure, which may be the first step towards 0.8482 or 0.8458.
Scenario: there is no potential for growth continuation beyond 0.8538. The distribution ends with a false break of resistance and price entry into the selling zone. Consolidation under 0.8526 will confirm the break of the structure, which may be the first step towards 0.8482 or 0.8458.
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❤️ Telegram channel: t.me/AndeWave
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.