Hmm.....if the Feds decide to lower interest rates next year, could be between March to June period, I would expect a steady rally in this pair.
As you can see from the long term chart, the price action is still in the downtrend channel. At 0.965, there was a rebound where it revisited the low on 2 Sept 2002 (20 years ago)
There are a two resistance points , one the upper channel line (dotted red) and the next is the igloo blue so don't expect a 90 degrees rally up but one filled with ups and down before the picture looks clearer.
Please DYODD and treat my analysis as reference or entertainment. Your money is your money so always be safe. When in doubt, don't move and observe , study the patterns and come up with your own analysis. Bet small for a start and always have STOP LOSS . Nothing is 100% guarantee except death and taxes , haha
As you can see from the long term chart, the price action is still in the downtrend channel. At 0.965, there was a rebound where it revisited the low on 2 Sept 2002 (20 years ago)
There are a two resistance points , one the upper channel line (dotted red) and the next is the igloo blue so don't expect a 90 degrees rally up but one filled with ups and down before the picture looks clearer.
Please DYODD and treat my analysis as reference or entertainment. Your money is your money so always be safe. When in doubt, don't move and observe , study the patterns and come up with your own analysis. Bet small for a start and always have STOP LOSS . Nothing is 100% guarantee except death and taxes , haha