I've been monitoring this pair for quite some time as its been ranging since February of this year. After a failed breakout attempt in early April, it looks like price is making another attempt at this week's open.
I don't really have a strong directional bias with this pair as it's been in quite a whipsaw pattern for the past couple of months. I'd drop down to the hourly timeframe to plan out my entry and a strong move to 2x ATR would be a good closure target.
I don't really have a strong directional bias with this pair as it's been in quite a whipsaw pattern for the past couple of months. I'd drop down to the hourly timeframe to plan out my entry and a strong move to 2x ATR would be a good closure target.