Looking on the weekly time frame we can clearly see the outer structure we have on this pair with it being respected previously..
Currently price action finished strong for the week with a lovely bullish engulfing candle formation also with the strong previous impulsive push to the upside it wouldn't surprise me seeing this now break to the upside. The only problem currently is the red level which is a simple support / resistance level in which we need to break again to the upside to convince us. Currently price action reached the top of the outer structure then broke below a support / resistance level and for me at the moment id be looking to short this currently after the most recent double top and also what looks to be an evening star candle formation also forming up at that level.
Currently price action finished strong for the week with a lovely bullish engulfing candle formation also with the strong previous impulsive push to the upside it wouldn't surprise me seeing this now break to the upside. The only problem currently is the red level which is a simple support / resistance level in which we need to break again to the upside to convince us. Currently price action reached the top of the outer structure then broke below a support / resistance level and for me at the moment id be looking to short this currently after the most recent double top and also what looks to be an evening star candle formation also forming up at that level.