Let s take a look at the bigger picture. On the weekly timeframe, there is a strong resistance formed since 2007.
A reversal h&s pattern is forming and right now price is very close to the blue trendline!!
1.43500 is a key level as it would be outside of the blue trendline and a double top was formed at that price.
There are 2 scenarios here:
1. Blue trendline is broken, and that would be something very dangerous for the usd!
2. Price gets rejected from the blue trendline and continues to fluctate inside the falling wedge it has formed.
Either way it goes, make sure you keep an eye on this!
Trade safe! Follow for more ideas!
A reversal h&s pattern is forming and right now price is very close to the blue trendline!!
1.43500 is a key level as it would be outside of the blue trendline and a double top was formed at that price.
There are 2 scenarios here:
1. Blue trendline is broken, and that would be something very dangerous for the usd!
2. Price gets rejected from the blue trendline and continues to fluctate inside the falling wedge it has formed.
Either way it goes, make sure you keep an eye on this!
Trade safe! Follow for more ideas!