I have highlighted multiple possible price directions. With reference to one of my commenters, I see a probability that the price will head to the top most resistance before seeing a push to the downside after its current consolidation. Take note that the dollar is possibly weakening considering its low GDP stimulus, low unemployment figures and the current COVID situation that it's in. Furthermore, the upcoming U.S elections will play a significant role in its currency strength too. Should the price hit the high of 1.19, consider shorting.
The price may remain consolidated in its channel and push to the downside. Do your own due diligence before trading.
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The price may remain consolidated in its channel and push to the downside. Do your own due diligence before trading.
For more content follow me on TradingView
Comment:
Edit: I said 'low unemployment figures'. It is supposed to be 'high'. My apologies!
Trade closed: target reached