Very interesting phase on this pair currently. Its been quite messy for the past weeks. Though we still have an up trending market on this pair looking at intraday charts, we can see clear exhaustion and liquidity fulfillment on the upside. This is an early indication to me that there good occur a massive selloff on this pair.
However, as stated, looking at the intraday structure. It could still move higher. Neutral for now, but short set up created in case it does sell off.
However, as stated, looking at the intraday structure. It could still move higher. Neutral for now, but short set up created in case it does sell off.
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I see a lot of bearish pressure on this market. Yet, we wait patiently for the market structure to break and to spot signals for shorts.