Recently this pair showed a second double top at the same resistance level.
I predict the pair will go down to complete the second shoulder of the inverted Head & Shoulders.
After that, it could go up to test the neckline of the formation.
IF it breaks out of the neckline resistance, we will have a much better chance of a long position.
For now, watch the price for a bounce from either 1.0470, or the level below it at 1.0412
I predict the pair will go down to complete the second shoulder of the inverted Head & Shoulders.
After that, it could go up to test the neckline of the formation.
IF it breaks out of the neckline resistance, we will have a much better chance of a long position.
For now, watch the price for a bounce from either 1.0470, or the level below it at 1.0412
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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.