The pair has been on an upward trend for the past 3 months rising more than 500 pips.
This bullish run it looks to be on its end as the pair found significant resistance around the 111.90 -111.80 are where it has formed an M formation on both the daily and 4hr timeframe.
If the pair form a triple top on the 4hr trendline it will be a great entry point for a short position.
This bullish run it looks to be on its end as the pair found significant resistance around the 111.90 -111.80 are where it has formed an M formation on both the daily and 4hr timeframe.
If the pair form a triple top on the 4hr trendline it will be a great entry point for a short position.