The market is moving in a upward channel in long-term frame.
Meanwhile the market is retesting the short-term upward trendline,and if the upward trendline is broken out,0.711 level,the lower edge of the upward channel, will be reached.
The strong support will be faced at the lower edge of the channel and a rally may come at this zone.
If the channel is broken out,a slump will appear.
Meanwhile the market is retesting the short-term upward trendline,and if the upward trendline is broken out,0.711 level,the lower edge of the upward channel, will be reached.
The strong support will be faced at the lower edge of the channel and a rally may come at this zone.
If the channel is broken out,a slump will appear.
Comment:
The market is retesting the lower edge of the channnel.
Comment:
The market is struggling at the edge.