Good Day traders !! On this pair we have two scenarios !! Either we break the trend line and we head toward a strong level of demand zone and then we can look for a long opportunity. Second scenario if the trendline rejects the price we have to wait until we break above the next resistance and we can get an entry right during the retest of this resistance that will turn support. On the weekly timeframe we had a strong impulse that was followed by a correction and it rejected the 0.618 Fib level which is the main reason why we do expect the market to continue it's uptrend.
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Trade safe !!!
Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I will also link the previous analysis of this pair for you guys.
Trade safe !!!
