After a significant drop and a downside move, price approached to the yellow support zone and was pushed to the upside.
Currently, we can see there is more bullish pressure and price is making a bullish reversal H&S pattern.
If price breaks the red resistance level at 1.2542 and closes a bullish 4H candle above this level, I expect a rise to 1.2590 which is a resistance point, and in the case of an upside breakout on it, the next target would be around 1.2620
Currently, we can see there is more bullish pressure and price is making a bullish reversal H&S pattern.
If price breaks the red resistance level at 1.2542 and closes a bullish 4H candle above this level, I expect a rise to 1.2590 which is a resistance point, and in the case of an upside breakout on it, the next target would be around 1.2620
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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.