The resistance around 1.4200 is an important level that price has touched and rejected three times. But on the last rejection, we can see that price formed a higher low, showing a tendency to break this resistance.
After the market opens, if this resistance breaks, we can consider a good long position since it’s in the direction of the trend.
If it gets rejected again, we won’t take action — for now, we have no plans for a short position on this pair.
After the market opens, if this resistance breaks, we can consider a good long position since it’s in the direction of the trend.
If it gets rejected again, we won’t take action — for now, we have no plans for a short position on this pair.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.