If bulls manage to break the 0.7727 resistance, the long term bearish market will be finished. We see two bullish signs:
- An inverted head and shoulders pattern
- Bullish divergence
By breaking the 0.7727 resistance, the neckline of the H&S pattern, plus the multi-year downtrend line and the latest peak will be broken and there will be no doubt in the coming bullish uptrend.
My suggested SL and TP levels are shown in the chart.
Good luck,
Ali Sharifazadeh, CFTe
- An inverted head and shoulders pattern
- Bullish divergence
By breaking the 0.7727 resistance, the neckline of the H&S pattern, plus the multi-year downtrend line and the latest peak will be broken and there will be no doubt in the coming bullish uptrend.
My suggested SL and TP levels are shown in the chart.
Good luck,
Ali Sharifazadeh, CFTe