Hello Traders,
This pair has been bearish for the longest. However, on the monthly chart, price seems to be consolidating. It is not in our place to figure out if the consolidation will lead to a rally or a dump but if you look inside the consolidation, you will notice that price swept the previous monthly high giving it the liquidity to go after the weekly lows.
Fast forward to recent times, you will notice that price has a weekly low to hunt and price is printing on the daily chart, a complex head and shoulders pattern.
Are we expecting lower prices? I think so, what about you?
Follow me for more updates.
Cheers,
Jabari
This pair has been bearish for the longest. However, on the monthly chart, price seems to be consolidating. It is not in our place to figure out if the consolidation will lead to a rally or a dump but if you look inside the consolidation, you will notice that price swept the previous monthly high giving it the liquidity to go after the weekly lows.
Fast forward to recent times, you will notice that price has a weekly low to hunt and price is printing on the daily chart, a complex head and shoulders pattern.
Are we expecting lower prices? I think so, what about you?
Follow me for more updates.
Cheers,
Jabari