The pair did not actually indicate where it is heading longer term
Unless 1,129XX (shown on the chart) is not broken - the resumption of a large downtrend is probable.
I am showing two absolutely alternative paths it may follow.
Uptrend - for example, the price will form a triangle and then continue climbing upside (red)
If it completes a flat correction - still lacking 1 impulse up (likely - to fibo 62 retracement area) - the pressure will increase and surely it will fall to 1,10 - then will update the analysis (blue)
Trade with care)
Unless 1,129XX (shown on the chart) is not broken - the resumption of a large downtrend is probable.
I am showing two absolutely alternative paths it may follow.
Uptrend - for example, the price will form a triangle and then continue climbing upside (red)
If it completes a flat correction - still lacking 1 impulse up (likely - to fibo 62 retracement area) - the pressure will increase and surely it will fall to 1,10 - then will update the analysis (blue)
Trade with care)