EUR/USD will probably not breakout of resistance
The gray highlights represent the highest high before each dip, which is represented as a purple circle. By utilizing a curve line, which is displayed in blue, that connects each of the gray highs shows that the difference between a previous high is decreasing.
To put this in simpler terms, let us presume and example where there are 3 highs for example, represented as h1, h2, and h3. Basically the difference between h1 and h2 is greater than the difference between h2 and h3.
In the curve shown in the chart, it is seen that around the last grey high, the curve is starting to become parallel to the x-axis. Thus I presume that the last, and most recent, grey high represents the resistance line (drawn in black). I do not think that EUR/USD will be breaking this resistance line anytime in the near future.
To put this in simpler terms, let us presume and example where there are 3 highs for example, represented as h1, h2, and h3. Basically the difference between h1 and h2 is greater than the difference between h2 and h3.
In the curve shown in the chart, it is seen that around the last grey high, the curve is starting to become parallel to the x-axis. Thus I presume that the last, and most recent, grey high represents the resistance line (drawn in black). I do not think that EUR/USD will be breaking this resistance line anytime in the near future.
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