Below is the weekly. Even though the current bar is not closed yet, we are at the middle of the week, and it is an indecision bar. We have to wait and see how it closes. Note the previous bar has risen up to 1.5843 (friday 24th sep high) and found resistance in the way as expected. If we analyze the daily chart we can see price formed a couple of indecision bars around that resistance zone, which represents a forming doji as the current week passes. Nevertheless, and again, we have to wait and see it at the close. I have attached another resistance/support line that is worth to study.
In a closer look at the daily, for three consecutive days, price has struggle around this zone, reaching as high as 1.5856, but no bar has broken the resistance line. We are really close to a breakout, but more than likely I'm thinking that could be a FalseBreakOut. On the close of the September 30th candle we can analyze this more deeply. Even I really want to see this weekly's bar as it closes. That could give us more clues.
Let's wait and remember, price is always right.
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