First we might want to look at the 3-year monthly chart. This can show us the long term up and down trends. The downtrend since 2003 lies this week around 0.70.
This year’s weekly charts downtrend lies at 0.42 and does, together with a former bottom line, form a double resistance. If we are able to break trough both of them at this weeks close, we might go to the upper Bollinger Band at 0.48.
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