I continue to insist that the price will drop soon. The new round of developments in the situation with the elections in the US yesterday strongly influenced all my forecasts with the participation of the dollar. Almost all pairs have broken through the upper boundaries and resistance lines instead of stopping at the nearest one as we had planned.
But I am not changing the direction of the deal. Now we see on the chart that the price of the pair has stopped at the resistance line and is testing it. I use an even smaller timeframe to more clearly show how the last trades went - within the line.
The resistance zone on which the price is now being fixed is strong for this chart, one line has existed here since September, the second - since January this year.
And such a price movement between two lines at its very intersection, and also a recent breakdown, suggest that the price will fall.
Therefore, I say that now is the time to open a sell trade. SL in this case will pass above the resistance zone, in case the policy again affects the price growth.
Traders, if you liked this idea or have your opinion on it, write in the comments. I will be glad👩💻
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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.