Thia pair has been inside a channel since 20th october and the price has reached the top line.
That may result in a down movement. Furthermore, the MACD and RSI show that there exist a divergence that also may cause a down movement.
Main trend is bearish and it may go down.
There are many proofs to say the price is going to fall and there is no any proof to say...
As you can see, the price is going to touch a support in a 1 hour timeframe. This support may cause the price go up. We can see also that the RSI is almost in its oversold line, it shows that the supply is almost done and it has lost its strength.
My view here is totally clear, LONG wwith target at the next resistence.
As you can see the RSI is almost in its overbought line and both indicators show a Divergence.
Looking at the price we see that it is almost touching a big resistence that has been coming from October last year.
I think it cannot break the resistence because it is almost overbought and the divergence shows that the demand isn`t strong enough.
