for this pair we have two possibilities, one of which is more probable.
the red line is the downtrend line, started from 5.jan.18. now we are close to the trend line and this is aligned with the resistance zone (black zone). considering the continuational triangle pattern , we can expect to have an uptrend to the next resistance zone (the blue zone) around 84.600. but before that, as usual, we should have a pullback to the zone. so the best choice for me is to see the chart passes the zone and red line, retest the zone and bounce there for a while, get the confirmation from H4 time frame, then go for a beautiful long.
guys, we should be careful of acting the current zone (black one) as a resistance too.
the red line is the downtrend line, started from 5.jan.18. now we are close to the trend line and this is aligned with the resistance zone (black zone). considering the continuational triangle pattern , we can expect to have an uptrend to the next resistance zone (the blue zone) around 84.600. but before that, as usual, we should have a pullback to the zone. so the best choice for me is to see the chart passes the zone and red line, retest the zone and bounce there for a while, get the confirmation from H4 time frame, then go for a beautiful long.
guys, we should be careful of acting the current zone (black one) as a resistance too.
Note
sorry for the mistake in the zones colors. the upper zone is the blue one and the lower one is the black one.
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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.