Hello,
as you can see price has broke below its trendline and is heading up to retest previous support (now resistance),in this case also neckline. You can see two pattern in the chart - Head and Shoulders + Double Top (made H&S‘s right shoulder). I expect price to retest this neckline and then push downwards to the support level.
DXY (Dollar Index) is also turning bullish and news are good for USD so this information confirms our bias.
Thank you for reading !
as you can see price has broke below its trendline and is heading up to retest previous support (now resistance),in this case also neckline. You can see two pattern in the chart - Head and Shoulders + Double Top (made H&S‘s right shoulder). I expect price to retest this neckline and then push downwards to the support level.
DXY (Dollar Index) is also turning bullish and news are good for USD so this information confirms our bias.
Thank you for reading !
Note
Unfortunately price broke its resistance level. We have to be reactive,not predictive so I will wait for a retest of neckline and then longing it
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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.