The daily chart on the left hand side shows the pair is stuck in a triangle formation. For last two trading sessions the spot has failed to close above symmetrical triangle hurdle, which may force traders/investors think if the corrective rally has ended.
However, take a look at the hourly chart on the right hand side, which shows the spot bounced off from the rising trend line support yesterday. As long as the spot stays above the rising trend line, the odds of a bullish break from daily triangle formation remain high.
However, take a look at the hourly chart on the right hand side, which shows the spot bounced off from the rising trend line support yesterday. As long as the spot stays above the rising trend line, the odds of a bullish break from daily triangle formation remain high.
