Following the rejection at 1.1485, the pair has formed a new Channel Down on 4H (RSI = 51.975, Williams = -23.7939) that is very similar to measurements to the previous two that emerged after identical rejections within the 1.1450 - 1.1500 zone. This repetitive pattern shows that after an initial +0.66 - 0.77% rise for a Lower High we should be expecting a decline to 1.1300, which is our intermediate target. 1.12700 is the end of this pattern and the most likely medium term target.
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.