is trading at 74.36. The pair is consolidating in the ascending triangle
resistance and support wedges
. Previously, the pair was trading in a down trend and after touching the support level
it started consolidating in the resistance and support levels. If the price breaks the resistance level
at 74.20, then it may start a new up trend and its target price will be at 76.24. If the price breaks the support level
at 72.72, then it may start a new down trend and its target price will be at 70.92.
Follow a proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
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