So I've been watching this channel form (possible but that seems unlikely) the past couple of weeks. We have a break & close above strong resistance at 0.6860, but I believe we will break back below subsequently initiating a pullback to the lower end of the channel around 0.6700 due to the daily candle close at channel highs.. In which bulls should attempt for a impulsive leg higher above resistance reaching last years support turned resistance at 0.7230. In which we should have a decent short selling trade in place. Until then Long trades seem favored on pullbacks with more risk being to the upside vs. the downside.
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