After a big growth, price has made a reversal double top pattern in 4H time frame.
The neckline of the pattern is broken out to the downside with a strong bullish candle and price has been fixed below it.
Currently, price is retesting the broken level which is around 1.3690 - 1.37, and then we can see a drop again.
But, personally, I will wait for the downside breakout and a bearish candle closure below the last low at 1.3653 to get more confidence about the sell position.
The possible target for this analysis is around 1.3573, but be careful about the support level at 1.36, and make sure to manage your position properly.
Good luck and have a profitable week!
The neckline of the pattern is broken out to the downside with a strong bullish candle and price has been fixed below it.
Currently, price is retesting the broken level which is around 1.3690 - 1.37, and then we can see a drop again.
But, personally, I will wait for the downside breakout and a bearish candle closure below the last low at 1.3653 to get more confidence about the sell position.
The possible target for this analysis is around 1.3573, but be careful about the support level at 1.36, and make sure to manage your position properly.
Good luck and have a profitable week!
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