Bearing then Bullish
We got out of a descending triangle in an uptrend. This is a continuation pattern.
A breakout occurred in the north side of the triangle.
Now, we have a small and a larger double top with bearish divergences, which is a good sign of downtrend at least in the short term. We are atm in an resistance area (old resistance).. The price could revert in two areas: 1.2657 or 1.25 maybe depending on how long it takes to hit the triangle resistance line (now support).
So I see a retest of this triangle resistance line (now as a support) and it should rally up 1.30ish.
A breakout occurred in the north side of the triangle.
Now, we have a small and a larger double top with bearish divergences, which is a good sign of downtrend at least in the short term. We are atm in an resistance area (old resistance).. The price could revert in two areas: 1.2657 or 1.25 maybe depending on how long it takes to hit the triangle resistance line (now support).
So I see a retest of this triangle resistance line (now as a support) and it should rally up 1.30ish.
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.