The pair has a flat in progress on the four-hour chart. There’s a “Breakaway Gap” above the local trend line.
Moreover, it’s a very likely that the market has been forming a “Triangle” pattern. It’s likely that the sellers pressure are going to increase and the pair will go even lower to a support area between the levels 1.4334 – 1.4148. Afterwards, the price can go to a new upward movement towards a resistance area between the levels 1.4351 – 1.4408.
The market has a local downward trend on the one-hour chart. There’s a flat movement in a form of triangle in progress between the support 1.4234 and the resistance 1.4404. It’s likely that the pair will go a little bit higher to a resistance area between the levels 1.4338 – 1.4351. However, the price might go to a new downward movement afterwards to a support area at the levels 1.4224 – 1.4234.
Origin: FX BAZOOKA
