There are some mixed signals from the price action of this pair. You could argue the latest retest resembles a bull flag, or the chart formation looks a little like an inverse head and shoulders.
At the moment my bias is still bearish as fundamentally we still have lower highs and lower lows. We also have the pin candlestick rejection from resistance.
As a cautious trader, i am awaiting a second re-test and rejection of resistance before entering a short position.
Good luck.
At the moment my bias is still bearish as fundamentally we still have lower highs and lower lows. We also have the pin candlestick rejection from resistance.
As a cautious trader, i am awaiting a second re-test and rejection of resistance before entering a short position.
Good luck.