This pair has been very confusing lately its definitely gearing up for a breakout and at the moment I think the Dollar is going to show some weakness for a while. Lots of factors involved with the dollar at the moment plus not knowing if the FED will raise interest rates or keep it the same. Last month they were Hawkish to raise rates a weak back they were dovish about the rate increase. Technically I favour the Eur0 at the moment because its the strongest weak currency of the 2.
Monthly chart : spinning top indicating indecision.
Weekly chart : Ranging. market candle body could not close below 1.3000 indicating a strong support zone.
Daily chart : a big mess, market is in a triangle indicating price is going to make a big move soon.
4HR chart : Possible breakout and retest of trendline. Currently in Play
Monthly chart : spinning top indicating indecision.
Weekly chart : Ranging. market candle body could not close below 1.3000 indicating a strong support zone.
Daily chart : a big mess, market is in a triangle indicating price is going to make a big move soon.
4HR chart : Possible breakout and retest of trendline. Currently in Play
Trade closed: stop reached
Which means a break and retest of trendline will be my signal to go long.