The short is very evident on the pair. I am trying to talk a different approach, a little price action here.
Now, looking at the trend line 'A', it is obvious that the trend is upwards. But, if we give a closer look a the candles, this is what we can observe.
From point '1', we can see an aggressive move up with large candles before the impulse observes a correction. Looking at the structure, we see that a nearly 500 pip move is observed in a very short span and the correction makes a higher low at point '2' before continuing the trend.
Now, taking a look at the next impulse move, we can incur that the move has taken nearly double the time to cover just around 70 percent of the height of the first impulse, around 350 pips before we observe the correction on the move making a higher low at point '3'.
The next impulse from point '3' has already taken a lot longer, by nearly 10 to12 bars extra on second impulse just to cover around 250 pips and we can also observe the candles getting smaller showing a lack of aggression in the trend.
Further, the pair is also approaching a 'Bearish Bat' completion at around .8630 and a strong structure resistance around .8700 region.
The entire analysis shows a decreasing momentum in the larger uptrend suggesting that the buyers are holding back from taking a position in the pair evidencing a change in trend in the upcoming days.
* This kind of price action can be observed on all time frames confirming our positions*
Now, looking at the trend line 'A', it is obvious that the trend is upwards. But, if we give a closer look a the candles, this is what we can observe.
From point '1', we can see an aggressive move up with large candles before the impulse observes a correction. Looking at the structure, we see that a nearly 500 pip move is observed in a very short span and the correction makes a higher low at point '2' before continuing the trend.
Now, taking a look at the next impulse move, we can incur that the move has taken nearly double the time to cover just around 70 percent of the height of the first impulse, around 350 pips before we observe the correction on the move making a higher low at point '3'.
The next impulse from point '3' has already taken a lot longer, by nearly 10 to12 bars extra on second impulse just to cover around 250 pips and we can also observe the candles getting smaller showing a lack of aggression in the trend.
Further, the pair is also approaching a 'Bearish Bat' completion at around .8630 and a strong structure resistance around .8700 region.
The entire analysis shows a decreasing momentum in the larger uptrend suggesting that the buyers are holding back from taking a position in the pair evidencing a change in trend in the upcoming days.
* This kind of price action can be observed on all time frames confirming our positions*