See Signposts on chart for key price action details. Specifically, resistance formed way back at the end of July. Latest pinbar formation indicates that price is failing to push higher. We did see a sharp move to 110.355 and price failed to make a significant break higher. This is a good sign of exhaustion. Best case scenario is for price to sell off. Worst case would be price ends up drifting lower without strong reaction either way at all.
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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.