Support Holding for Time Being
After forming a lower high, price has moved into test the daily chart support level.
This level looks crucial in this pair because whilst it has held strongly in recent times, it could soon break for price to make a move lower.
From here it would not surprise to see price make a small bounce from the support level before making another attempt at breaking lower.
If we can see that play out, then we can start heavily looking for breakout trades lower.
This level looks crucial in this pair because whilst it has held strongly in recent times, it could soon break for price to make a move lower.
From here it would not surprise to see price make a small bounce from the support level before making another attempt at breaking lower.
If we can see that play out, then we can start heavily looking for breakout trades lower.
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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.