Potential big drop...
This minor pair broke below rising channel on the weekly timeframe and is currently retesting the structure. A bearish pin bar was printed at the close of last week’s candle and a potential weekly engulfment at the close of this weekly candle. Scaling down to the H4 timeframe, price is currently sitting on the rising trendline support. A break below this structure could trigger selling pressure.
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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.