4H CHART EXPLANATION:
- Price bounced at the Weekly Resistance Zone.
- Now, it is facing the short term Ascending Trendline.
- This scenario that we are considering is just a short term move towards the next support zones, looking for a retracement of the strong upside move.
- Will wait and see how the trendline reacts.
- Keep in mind that the main trend on this pair is bullish after the breakout of the Weekly Descending Channel.
DAILY CHART ANALYSIS:
- Price bounced at the Weekly Resistance Zone.
- Now, it is facing the short term Ascending Trendline.
- This scenario that we are considering is just a short term move towards the next support zones, looking for a retracement of the strong upside move.
- Will wait and see how the trendline reacts.
- Keep in mind that the main trend on this pair is bullish after the breakout of the Weekly Descending Channel.
DAILY CHART ANALYSIS: