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This instrument is showing uncertainty on both directions.
In this first chart, I see price trying to consolidate the 0.82 area, after a quick bounce from historical law area between 0.78 and (indeed) 0.82. To analyze better these levels, I had to decrease zoom and watch on older price action.
With blue rectangle, I enlightened what I consider as a key: long time ago (left side of chart) there was a strong bearish momentum, which required huge time before market was finally able to conquer the 0…
In this first chart, I see price trying to consolidate the 0.82 area, after a quick bounce from historical law area between 0.78 and (indeed) 0.82. To analyze better these levels, I had to decrease zoom and watch on older price action.
With blue rectangle, I enlightened what I consider as a key: long time ago (left side of chart) there was a strong bearish momentum, which required huge time before market was finally able to conquer the 0…