For this pair it seems price might be bouncing off the descending trend line and if we get confirmation of this I will go short, however if price breaks above this descending trendline then I will wait for a retest before potentially entering long.
- Both TP's are shown at the two next key support levels
- I expect price to either bounce off the first support level or break through and retest the first support level turning it into a resistance level
This is a very simple setup trying to move with the market, let me know what you think!
Good Luck!
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So it seems US news had pushed the price upwards on a breakout! will be waiting for the hourly close to see if price stays above the descending trendline and then will wait for a retest before potentially entering a long position!