Hello, Traders!
I expect a short term continuation of this downtrend. If we take the current movement to the downside into account we can see that it's pretty weak and that a flag consolidation is being formed. On the daily time frame the 200 MA indicator might act as a support. It is better to watch this pair closely as it could soon move up again.
What do you guys think? I'd be happy to know your thoughts about it.
I expect a short term continuation of this downtrend. If we take the current movement to the downside into account we can see that it's pretty weak and that a flag consolidation is being formed. On the daily time frame the 200 MA indicator might act as a support. It is better to watch this pair closely as it could soon move up again.
What do you guys think? I'd be happy to know your thoughts about it.