That is my view of the continued movement of this currency pair. Descending triangle pattern formed since 3 years ago, which was preceded by an upward trend. All I know is that this is a sign of a reversal because the trend that started it was the uptrend.
At the moment the price seems to be going to the trend channel (trendline of descending triangle), so that when the price has reached it, a bearish gartley pattern will be formed, which indicates a reversal of direction. I predict the price will go to the point of the trendline because of a doji candle with very long lower shadow.
The assumption of this reversal is quite strong because of the descending triangle and bearish gartley patterns, with a note if the price reaches the trend line. The real reversal of the descending triangle pattern is when the support line below is broken.
At the moment the price seems to be going to the trend channel (trendline of descending triangle), so that when the price has reached it, a bearish gartley pattern will be formed, which indicates a reversal of direction. I predict the price will go to the point of the trendline because of a doji candle with very long lower shadow.
The assumption of this reversal is quite strong because of the descending triangle and bearish gartley patterns, with a note if the price reaches the trend line. The real reversal of the descending triangle pattern is when the support line below is broken.
Comment:
The movement didn't go up to find the trendline channel.