© Dukascopy Bank SA
The currency pair has recently exited the formation by crossing the lower boundary of it. Despite the fact the sharp decline did not happen, the pair is not strong enough to prove the breakout was false by returning to the pattern as the 50-hour SMA at 1.6794 is blocking the upswing. According to the technical data, the pair is likely to slide in the next hour but may advance in the medium and long perspectives.
© Dukascopy Bank SA