Is there a pattern formation?
At the moment, the pair continues to depart from the lows and we observe the upward movement.
Stochastic is currently pointing to sales and we believe this is the beginning of a corrective movement. If we consider our chart, we can observe the formation of the second "shoulder" in the "inverted head and shoulders" pattern. Now the shoulder is formed and the price, according to our estimates, will reach the mark of 1.1550 from which the development of the pattern will begin.
Therefore, we advise you to look for points to enter long positions from the level of the shoulders and to set the goal at the base of the pattern. In the future it is possible to move the pair to the mark of 1.1750
Stochastic is currently pointing to sales and we believe this is the beginning of a corrective movement. If we consider our chart, we can observe the formation of the second "shoulder" in the "inverted head and shoulders" pattern. Now the shoulder is formed and the price, according to our estimates, will reach the mark of 1.1550 from which the development of the pattern will begin.
Therefore, we advise you to look for points to enter long positions from the level of the shoulders and to set the goal at the base of the pattern. In the future it is possible to move the pair to the mark of 1.1750
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