For the moment, the downside pressure on this pair is gone, and a rally is probable.
Weekly class A bullish divergence, followed by a double bottom with a class B divergence is a very common pattern. If I would be considering the pattern alone, I would say that an uptrend would come, but since there are more facts to consider, I would say that a rally to 0.92-0.93 is way more likely.
There is no candle signal yet, so buy with caution. Once we get a candle signal we'll probably have a green impulse, adding heavily will be a good idea.
Weekly class A bullish divergence, followed by a double bottom with a class B divergence is a very common pattern. If I would be considering the pattern alone, I would say that an uptrend would come, but since there are more facts to consider, I would say that a rally to 0.92-0.93 is way more likely.
There is no candle signal yet, so buy with caution. Once we get a candle signal we'll probably have a green impulse, adding heavily will be a good idea.
