on the daily chart, we can see that the price has reversed from the resistance level 1.0045
the price also broke the up trend line from the low of april
a harmonic pattern AB=CD is shaped with overbought on RSI, to boost the bearish view for the upcoming movement
so if the price could break the support zone 0.998-0.994, it will have its way back down to the broken lower trend at the next support zone 0.983-0.976
then, with big head & shoulders on the sight. the price will find momentum to activate the pattern to retest again the resistance 1.0045 & maybe comes across it
the price also broke the up trend line from the low of april
a harmonic pattern AB=CD is shaped with overbought on RSI, to boost the bearish view for the upcoming movement
so if the price could break the support zone 0.998-0.994, it will have its way back down to the broken lower trend at the next support zone 0.983-0.976
then, with big head & shoulders on the sight. the price will find momentum to activate the pattern to retest again the resistance 1.0045 & maybe comes across 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.