My bias for this currency pair is LONG. Why you ask?
We traders know the market can only do a couple of things, for sure one is to go UP(Rising, Buyers in control) and the other is DOWN(Falling, Sellers in control), few traders know the market also goes SIDEWAYS(Consolidation, no control, some see this as "Ranging").
What you are seeing is Support & Resistance with Trendlines. The areas inside the rectangle are what I assume is where "divergence" happens in the market. Do you see how price tested two specific areas and then waited a bit before moving again?
Not a signal - for educational purposes only.
We traders know the market can only do a couple of things, for sure one is to go UP(Rising, Buyers in control) and the other is DOWN(Falling, Sellers in control), few traders know the market also goes SIDEWAYS(Consolidation, no control, some see this as "Ranging").
What you are seeing is Support & Resistance with Trendlines. The areas inside the rectangle are what I assume is where "divergence" happens in the market. Do you see how price tested two specific areas and then waited a bit before moving again?
Not a signal - for educational purposes only.