And so, the price has been growing in an upward channel since the beginning of this year. During the growth, it tried to break through the lower border of the channel - the support line, but eventually returned to the channel. In the process of growth from the lower border of the channel, the price was able to break through the strong support line at 91.42. Then it continued to grow and touched the resistance line 92.52 - the upper border of the channel. This happened in early March and since then the price has been in decline.
The falling price came to the support line at 91.36, bounced back but could not grow much and, as a result, made a false breakdown of the support at 91.58. Now it is on the line again, but I expect the price to break it again and after the breakdown it will go down to the senior support line at 91.30. This will be our goal.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
@Lingrid, I also think that the GBP/USD will fall because the 1.4 resistance line has prevented prices from continuing to grow many times. But what is puzzled is that you are bearish on the GBP/USD and the USD/JPY, and bullish on the EUR/USD and AUD/EUR. So according to your opinion, whether you can rank the strengths of the currencies as follows AUD>EUR>JPY>USD>GBP ? Do you have the idea of hedging ?
Lingrid
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@fx_mario, hmm, thanks for the question
I'll think about it
T-r-X
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You have a bad track record. DXY is clearly bullish.
Lingrid
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@T-r-X, if this is bad for you, then explain why, everyone is interested to know your opinion
it is not professional to write not to explain your thoughts)
sparrow_hawk_737
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@Lingrid, Because all your predictions are OPPOSITE to what actually DXY does. Just look at your posts.
Trwin
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nice...but can break level 92.200 and move toward next resistance 93.000-93.400
Lingrid
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@Trwin, thank you very much for sharing your opinion👍
I really appreciate it