The pair has been on a massive bull run for the past few weeks but is approaching a strong resistance level which will prompt a pullback.
RSI is overbought on the daily and weekly timeframe, so it's best to wait for rejection and reversal confirmations on the resistance level before capitalizing on the pullback.
Keep an eye on the pair once it approaches the resistance.
RSI is overbought on the daily and weekly timeframe, so it's best to wait for rejection and reversal confirmations on the resistance level before capitalizing on the pullback.
Keep an eye on the pair once it approaches the resistance.
Note
First Target hitTrade closed: target reached
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.