I think this pair is just making a correction to continue the long term decline.
On W1 chart we have price just broke the upward trendline, is bouncing from Ema 200 and strong resistance level. Weekly candle is a pinbar.
Here on D1 chart:
- ema 55 as resistance (weekly ema 200+daily ema 55=powerful combination!!)
- evening star at round number 0.8500
- trendline resistance
If will depend a lot on oil, if it stars a rally (as i expect) this pair will decline strongly, last weeks oil is not moving.
This trade could last 1-2 months so be prepared for that.
Regards.
On W1 chart we have price just broke the upward trendline, is bouncing from Ema 200 and strong resistance level. Weekly candle is a pinbar.
Here on D1 chart:
- ema 55 as resistance (weekly ema 200+daily ema 55=powerful combination!!)
- evening star at round number 0.8500
- trendline resistance
If will depend a lot on oil, if it stars a rally (as i expect) this pair will decline strongly, last weeks oil is not moving.
This trade could last 1-2 months so be prepared for that.
Regards.