Starting with the monthly we see a sharp move down. These moves are usually proceeded with a sharp move up. Monthly parabolic tend to happen with flats at the end.
Look in comments for lower time frame analysis.
Look in comments for lower time frame analysis.
Note
Price resting on daily support line.
Note
Close above the 4hr trendline could offer entry
Note
Pair still locked in support and resistance. Monthly corrections tend to take time to play out. once the range breaks lets home for some momentum.
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Related publications
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.