Monthly chart:
- Monthly chart is in clear downtrend as it falls well below the 50 SMA
- Bearish price action (small red circled) is comparatively smaller compared to the earlier (large red circled) showing that instead of retracement, this pair would create strong support/resistance to move for some time
- Considering the last 2 red candles ending up with Doji, the price is expected to move around this area for coming months
Daily chart:
- As in Monthly chart, Weekly chart also shows the reduc…
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