Checking on the monthly timeframe the pair bounced off the High Of The Year whereby it also formed this year quarterly high within it. Since then the price has been on a downtrend. Narrowing down to the daily timeframe price has had a retracement giving a chance for a sell entry.
In the 1hr timeframe, the price has already formed a bearish Order block. Today being on a Thursday with the entry point marked in the chart we anticipate a continuation in the downtrend.
In the 1hr timeframe, the price has already formed a bearish Order block. Today being on a Thursday with the entry point marked in the chart we anticipate a continuation in the downtrend.