The resistance zone of 1.47200 is giving a hard time to the bulls.
The pair was unable to cross it after testing it twice and subsequently formed a head and shoulder pattern and broke it.
The bulls are fighting back, however, their efforts are capped by the neckline.
Hence, we expect the pair to be bearish in the short-term.
The pair was unable to cross it after testing it twice and subsequently formed a head and shoulder pattern and broke it.
The bulls are fighting back, however, their efforts are capped by the neckline.
Hence, we expect the pair to be bearish in the short-term.
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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.