Hi traders ,on my previous analysis the price failed to drop a little before shooting up but its okay :)
Here's my update on this pair:
The pair is trading in a descending broadening wedge ?/ right angled broadening bottom wedge ? which makes it a little bit hard for me to deicide the next big move.
The price could fail to touch the falling resistance and melt down to the next support line (0.66300 - 0.66000) before shooting up
Or the price could test the horizontal resistance , re-test the wedge and shoot up to 0.70000
Or the price could be rejected at the falling/horizontal resistances before melting down to the support line (0.66300 - 0.66000)
lets see how it plays ...
Here's my update on this pair:
The pair is trading in a descending broadening wedge ?/ right angled broadening bottom wedge ? which makes it a little bit hard for me to deicide the next big move.
The price could fail to touch the falling resistance and melt down to the next support line (0.66300 - 0.66000) before shooting up
Or the price could test the horizontal resistance , re-test the wedge and shoot up to 0.70000
Or the price could be rejected at the falling/horizontal resistances before melting down to the support line (0.66300 - 0.66000)
lets see how it plays ...
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