Price has broken through the support trend line which it has re-tested.
A rising wedge has formed, as well a 'W' pattern, which has re-tested the previous support level and appears to be rejecting it.
Price is also under the 200 EMA, which suggests that it is in a downtrend.
Expecting price to continue to break out of the rising wedge and continue bearish to the 1.28700 area.
A rising wedge has formed, as well a 'W' pattern, which has re-tested the previous support level and appears to be rejecting it.
Price is also under the 200 EMA, which suggests that it is in a downtrend.
Expecting price to continue to break out of the rising wedge and continue bearish to the 1.28700 area.