The breakout was a false one on Tuesday and what usually happens after a false breakout the price moved in the opposite direction.
Friday shows price decline after traders taking profits around $1.01368 who bought the price at the $0.99314 which activated a sell off returning the price down.
Next week we need to see the price above the small downtrend channel resistance line with daily close above which will allow price reaching $1.01368 level.
We can expect bearish candle at the confluence area of resistance with price targeting to reach the upper side of the current indecision area which is around $1.0000.
Friday shows price decline after traders taking profits around $1.01368 who bought the price at the $0.99314 which activated a sell off returning the price down.
Next week we need to see the price above the small downtrend channel resistance line with daily close above which will allow price reaching $1.01368 level.
We can expect bearish candle at the confluence area of resistance with price targeting to reach the upper side of the current indecision area which is around $1.0000.
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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.