We continue to observe the behavior of the price of this currency pair. Let me remind you of my past predictions that came true First, after a strong fall, the price found the strength to go up and broke through two support lines.
Then it pushed away from it and rose to the resistance zone.
Then the price bounced off the resistance zone, broke through two resistance lines and fell to the level. Thereby fulfilling my previous forecast.
After a strong fall, the price is now on the support line. What do we know about this line?
This is a strong support that was formed in 2018. This gives the price a good impetus to start growing. Therefore, I expect that now the price will bounce off this line and rise towards the resistance line.
Traders, if you liked this idea or have your opinion on it, write in the comments. I will be glad👩💻
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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.