The pair has been trading within a Channel Down on the monthly chart (RSI = 42.888, Highs/Lows = -0.0176) but is currently rebounding after making a 1.04340 Low this week. This is the strongest bullish sequence on consecutive candles since its last bullish leg within this channel. That is an indication that it may have priced its Lower Low earlier, instead of the technically more appropriate 1.03900.
Our estimate is that the pair will enter the next bullish leg towards 1.10500 and will last 3 - 4 months.
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Our estimate is that the pair will enter the next bullish leg towards 1.10500 and will last 3 - 4 months.
** If you like our free content follow our profile (www.tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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www.investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial