In the weekly time frame, since September 2017, the price has been following an uptrend, getting a stronger impulse in December 2019.
Once the price reached an important at about 1.46700, it started collapsing down it's currently continuing the same trend.
In the daily time frame, since March 2020, the price has been moving with a clear movement, creating an interesting pattern (many rejections on its dynamic S/R line are an extra confirmation).
It is currently in downtrend and there is a nice possibility to see the price reaching its dynamic support line.
In the h4 time frame, the price is moving inside a and it's now retesting the at about 1.26200 for the third time.
The next price action around that level will be essential to understand the next market movement.
I believe the price is slowly losing strenght to grow and reach its dynamic resistance line but I'm still confident to see a trend correction before eventually collapsing down breaking through the at 1.26200.
I'll be waiting the breakout of the current level before planning any short position!
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⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
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