However the shows a different story, it is signaling a bias for this pair as prices are trading above the 200 Daily average, the indicator is also signaling a new wave as the blue line is crossing the orange line to the upside
Divergence: The divergence between the two charts (Weekly and daily) is indicating that there is a strong possibility of a trend reversal, however it is not yet confirmed. And for that I would consider this pair trading at consolidation. In addition the 200 DMA slope is steady and not pointing to any market direction.
Pattern On the , prices were rejected twice at the 1.090 support or at the of the May, 2015 wave. The suggests further price appreciation towards the next resistance/ major round number.
Heiken Ashi & Renko are in Green trend filters and are suggesting a buying opportunity.
Confirmation Alert? I will wait for this pair to execute a break out, or in other words break and close above or below any of the major/ critical support or resistance levels. For now I believe that prices are going to continue in appreciating, however I will not jump into any position until prices break and close above the 1.15 level.