The price is running within a descending (bearish) channel and is approaching a strong resistance level at 0.60525. I expect another slight rise to complete the descending channel and retest the resistance level. With a successful retest, we may see a reversal in the trend and a drop to at least the first support level at 0.58775 and eventually to the second support level at 0.58035.
NOTE: Do not apply trades blindly. Wait for confirmation and always analyze lower timeframes.
Let me know in the comment section below if you have any questions, ideas, or thoughts...
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NOTE: Do not apply trades blindly. Wait for confirmation and always analyze lower timeframes.
Let me know in the comment section below if you have any questions, ideas, or thoughts...
Don't forget to like and subscribe!