Weekly shows that EA is trading within consolidation range, the support of which has been broken through.
On the daily we can see that the more recent price action is beginning to form a descending wedge.
After breaking through the TR support and consolidating, price saw a sharp markup towards the resistance of the wedge before rejecting it with some
strong, bearish candles.
Price currently appears to in a correction phase before (hopefully) continuing on its bearish path, into the old support @ 1.60600
On the daily we can see that the more recent price action is beginning to form a descending wedge.
After breaking through the TR support and consolidating, price saw a sharp markup towards the resistance of the wedge before rejecting it with some
strong, bearish candles.
Price currently appears to in a correction phase before (hopefully) continuing on its bearish path, into the old support @ 1.60600
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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.