On the lower time frame, the currency pair is in a flat straight at a strong historical resistance level of 1.2178.
There is a strong struggle for the situation on the market, buyers or sellers ... At the moment, the price stood at the intersection of two strong levels, which complicates the situation with further choice of direction. I expect a return below the level and a further fall to the trend support to 1.2126.
The global picture.
We see consolidation under the price channel support, which is a classic long-term sell signal. The price is in the short zone.
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There is a strong struggle for the situation on the market, buyers or sellers ... At the moment, the price stood at the intersection of two strong levels, which complicates the situation with further choice of direction. I expect a return below the level and a further fall to the trend support to 1.2126.
The global picture.
We see consolidation under the price channel support, which is a classic long-term sell signal. The price is in the short zone.
-------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
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