DISCLAIMER - This analysis does not warrant any immediate buy and sell. Every trader should do their analysis themselves and have proper risk management executed perfectly in accordance with their trading plan.
Price has already deviated away from a strong price channel that has been created since July 2018. The price that surged to 1.14691 just retested in that area, then followed by an immediate plunge back to the price channel. This would mean that sellers have a strong influence on the price and clearly suggests how formidable they are when price deviates from the price channel. It would be possible to see another circumstance where the price would plunge below 1.10243.
Price has already deviated away from a strong price channel that has been created since July 2018. The price that surged to 1.14691 just retested in that area, then followed by an immediate plunge back to the price channel. This would mean that sellers have a strong influence on the price and clearly suggests how formidable they are when price deviates from the price channel. It would be possible to see another circumstance where the price would plunge below 1.10243.