Pattern formation
At the moment we are seeing a reversal in the pair. The price has moved away from annual lows and is in correction.
After reaching the level of 1.2485, the price turned around. We suppose that at the moment a head and shoulders pattern is being formed with the level of shoulders around 1.2610. The next resistance level for the growth of the pair will be the level of 1.2680. In case of breakdown, the pair will head for 1.2780. Therefore, we advise you to take long positions in a pair and trade taking into account the above levels.
After reaching the level of 1.2485, the price turned around. We suppose that at the moment a head and shoulders pattern is being formed with the level of shoulders around 1.2610. The next resistance level for the growth of the pair will be the level of 1.2680. In case of breakdown, the pair will head for 1.2780. Therefore, we advise you to take long positions in a pair and trade taking into account the above levels.
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