In my previous analysis, I expected more downside move for US dollar but price could not break the support level around 92.400 and was pushed to the upside…
Currently, price is bouncing sideways in the form of a rectangle pattern.
On the other hand, there is more bullish pressure and the bullish candles are very stronger than the bearish ones.
As you see in the chart, price has been rejected by 92.900 (Weekly High) twice, so it is a key resistance level for us and if it broken to the upside, we can expect a rise to 93.150 which is the next resistance level.
Otherwise, if price could not break 92.900, it will continue its sideway movement in the rectangle.
Currently, price is bouncing sideways in the form of a rectangle pattern.
On the other hand, there is more bullish pressure and the bullish candles are very stronger than the bearish ones.
As you see in the chart, price has been rejected by 92.900 (Weekly High) twice, so it is a key resistance level for us and if it broken to the upside, we can expect a rise to 93.150 which is the next resistance level.
Otherwise, if price could not break 92.900, it will continue its sideway movement in the rectangle.
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