Really, you can see this trend transition pattern even on the 4 hour and the daily chart but 8 hour looks the best.
Head and Shoulders is visible and occurred at a long term support level. We have had a long downtrend too and we did stop making lower lows. We made our first higher low indicated by the right shoulder. We had a nice strong break on the neckline too.
108.60 zone is an area to watch for reaction and taking profits.
Head and Shoulders is visible and occurred at a long term support level. We have had a long downtrend too and we did stop making lower lows. We made our first higher low indicated by the right shoulder. We had a nice strong break on the neckline too.
108.60 zone is an area to watch for reaction and taking profits.