This pair has been whipsawing between two extremes since early 2021. Most recently, we're seeing a clean breakout above the 0.86785 level.
We're anticipating that price will hold above this upper range boundary and continue trending higher. Of course, this breakout will be invalidated if price crosses back below this level.
Unless there is some kind of surprising fundamental factor, I would say it's unlikely for price to return back to range.
Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.
Like this article? Show your appreciation by sending a tip to the author.
Leave Your Message Now