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Due to the strengthening US dollar, we are waiting for another attempt to attack the resistance level. As I wrote earlier, the support and resistance become “weaker” with each subsequent attempt to break through. The third, fourth and each subsequent attempt to break the resistance indicate a strong pressure for a given level and may indicate further movement in that direction.
We can see on the chart that the strengthening dollar may break through the resistance. At the same time, you can see the formation of an inverted head and shoulders, oRGR. A trend pattern may herald a reversal, which in the case of this currency would give a positive impulse to growth for several reasons. The first one is definitely the change of power in the US. The second is the announcement of large-scale vaccination in the US to slow the spread of the COVID-19 virus. The formation condition is known? If not, feel free to ask questions, we are here to help.
