Let us stop imagining that it will reverse and fly up. It is not going to happen this year, it is a clear double top. It is my personal point ir view, do not take any trading decisions basing on it!
Despite the high price, pair is heavily oversold. Stoploss area most likely to be pierced.
Mos likely breakout to the upside will ocur.
Reversal failed once. This time it has high probability to happen. Corrective structure is expected.
Near past price action shows strong down move deceleraion. It may result in currency pair's price reverse and may significantly increase.
Corrective move is in progress that vill probebly result in a spiky price move down.
I hope I draw it clear. Price correction may result in bullish move. Looking to buy.
Corrective structure of recent reverse is in progress. It may end compressed and bullish breakout probably will occur.
Correction may end compressed, bullish breakout probably will occur.
