The counter formed a double top pattern and broke the critical support level of 1.01187.
Then it made a bullish correction in the form of a bearish flag formation.
The broken support of 1.01187, proved to be a tough nut and capped the price action.
Now, the pair has broken out of the bearish flag formation, by forming a double top pattern.
We expect the resistance of 1.00810 to cap price action and nudge it down from here.
Then it made a bullish correction in the form of a bearish flag formation.
The broken support of 1.01187, proved to be a tough nut and capped the price action.
Now, the pair has broken out of the bearish flag formation, by forming a double top pattern.
We expect the resistance of 1.00810 to cap price action and nudge it down from here.