The price has completed an inverse head and shoulders pattern today. A decisive break of the neckline suggesting a bottom could be in place.
Interestingly, the price is retesting the neckline of prior head and shoulders top that completed in late April. That area also includes the 200-days simple moving average, among 0.7480-0.7500. This area could form a resistance for now, and if it succeeds to halt the rise and the price pullbacks it might be an opportunity to long the pair.
Lets see what price action brings us and if a trade will present it self.
Best
Technician
Interestingly, the price is retesting the neckline of prior head and shoulders top that completed in late April. That area also includes the 200-days simple moving average, among 0.7480-0.7500. This area could form a resistance for now, and if it succeeds to halt the rise and the price pullbacks it might be an opportunity to long the pair.
Lets see what price action brings us and if a trade will present it self.
Best
Technician