Preferred direction: SELL
Comment: This currency pair most likely also forms a setup that is not in favor of the dollar. Here, we also expect a short-term fall in the American currency.
As we see, before the NFP, the price began to accumulate before reaching the resistance level of 0.85696. In general, pushing the price to the level is a sign of a breakout, but here we have not reached the level, so we have the possibility of a false breakout or simply a rebound, which is less likely. Therefore, the priority scenario is precisely a false breakdown of the level of 0.85696, and then a short-term fall towards 0.84500.
Thank you for like and share your views!
Comment: This currency pair most likely also forms a setup that is not in favor of the dollar. Here, we also expect a short-term fall in the American currency.
As we see, before the NFP, the price began to accumulate before reaching the resistance level of 0.85696. In general, pushing the price to the level is a sign of a breakout, but here we have not reached the level, so we have the possibility of a false breakout or simply a rebound, which is less likely. Therefore, the priority scenario is precisely a false breakdown of the level of 0.85696, and then a short-term fall towards 0.84500.
Thank you for like and share your views!
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