**Monthly Chart**
The price was in the long-term sideways range from 2017 till date between 1.82600 and 2.13000. It peaked above the high twice in Mar 2020 and recently in Aug 2023 (creating double tops) but was unable to sustain the move higher. Although last month's candle closed higher, this month's candle (which is still active) opened higher and then drifted lower, suggesting that the price to move lower in the coming weeks.
**Weekly Chart**
Aug 2023 candle was a manipulation candle (MC) that started the lower movement after testing the historical high around 2.15000 level. Last week's candle also closed lower suggesting this week's movement should be lower. However, I am a little bit concerned as the price was moving in a range between 2.1000 and 2.06000 for the last 6 weekly candles
**Daily Chart**
The daily chart clearly suggested buying near the extreme low and selling near the extreme high for the last 6 weeks.
The price was in the long-term sideways range from 2017 till date between 1.82600 and 2.13000. It peaked above the high twice in Mar 2020 and recently in Aug 2023 (creating double tops) but was unable to sustain the move higher. Although last month's candle closed higher, this month's candle (which is still active) opened higher and then drifted lower, suggesting that the price to move lower in the coming weeks.
**Weekly Chart**
Aug 2023 candle was a manipulation candle (MC) that started the lower movement after testing the historical high around 2.15000 level. Last week's candle also closed lower suggesting this week's movement should be lower. However, I am a little bit concerned as the price was moving in a range between 2.1000 and 2.06000 for the last 6 weekly candles
**Daily Chart**
The daily chart clearly suggested buying near the extreme low and selling near the extreme high for the last 6 weeks.
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Join our PropSignals Channels on Telegram
t.me/PropsignalAE
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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.