it seems that the uptrend line is still stable and the price is supported at 0.38 fibonacci after pullback. we are also witnessing the formation of an uptrend pattern, all of which is likely to continue the uptrend.
if this is a fake breakout and we see the formation of a double top pattern or some type of a candlestick pattern in the resistance area, the price can continue its downtrend.
after the fake breakout in the h4 time frame ,we see the formation of a triangle pattern, which may be formed after the pattern breaking and major resistance of the uptrend.
in this currency pair,we are witnessing both a broken trend lind and the formation of a head and shoulders pattern,which is likely to fall after the pullback.
