The currency pair has overcome a huge 0.8% or 110 points since the opening of the session, having wasted all the potential and is trying to test the resistance. The potential for breakout and continuation of growth may not be enough and the price may make a false breakout and correction before the second impulse to the intermediate high, where the scenario with correction may be repeated
Scenario: Breakout of 1.3402. No possibility to continue growth, return under the level and consolidation below the level - further sales.
It is possible that the price will consolidate above 1.34 and will head towards the far, strong level of 1.34425 from which a false breakout and correction can also be considered.
Scenario: Breakout of 1.3402. No possibility to continue growth, return under the level and consolidation below the level - further sales.
It is possible that the price will consolidate above 1.34 and will head towards the far, strong level of 1.34425 from which a false breakout and correction can also be considered.
Note
Trade active
Target reached
Further, if there will be no continuation of the fall, and the price starts to consolidate near the resistance 1.34, then in this case we can count on the continuation of growth to the next resistance to trade a false breakout
Trade closed: target reached
Both goals have been achieved
Now the third situation is formed after the false breakout of the second resistance
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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.
❤️ 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.