On the Monthly TF, this pair has slowly been on an uptrend while taking impulsive moves and pullbacks along the way.
Despite retesting the last temporary support zone around the 140 price level (in Sept 2024), recent events are showing that it may break below that region as we have seen a strong resistance around the 160 region.
If it breaks below 139 we might see it dropping below to the 120. If it doesn't, then it will continue its Impulsive move and pullback pattern to a new ATH.
Let's see how it plays out.
PS: Don't forget that FA often affects TA (positively or negatively - depending on your analysis). #UseRiskManagement
Despite retesting the last temporary support zone around the 140 price level (in Sept 2024), recent events are showing that it may break below that region as we have seen a strong resistance around the 160 region.
If it breaks below 139 we might see it dropping below to the 120. If it doesn't, then it will continue its Impulsive move and pullback pattern to a new ATH.
Let's see how it plays out.
PS: Don't forget that FA often affects TA (positively or negatively - depending on your analysis). #UseRiskManagement
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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.
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.