There are two possible cases here,
1. The green line which can be a long trade with stoploss below the blue box.
2. The red line which can a short trade, however I would wait for a retest if this plays out.
I am leaning more towards the short because in highe time frame this pair is bearish, we have a down trend holding 50-200EMA band as resistance.
Let me know what's your thought.
1. The green line which can be a long trade with stoploss below the blue box.
2. The red line which can a short trade, however I would wait for a retest if this plays out.
I am leaning more towards the short because in highe time frame this pair is bearish, we have a down trend holding 50-200EMA band as resistance.
Let me know what's your thought.