Breakingout the resistance level

28 בנוב׳ 2021

According to the chart, a downward trend has been started since June 2021. The dynamic resistance prevented price rising at the level of 1.16800 and it caused to throw down the price to the level of 1.12 (the least price from June 2020 until now). A true break is seen at this level and pull back has been completely done. A short correction is expected to the level 1.12700. Then, a sharp increase could happen to get back the level of 1.15159 (0.5 Fib- Ret).