Previously I already wrote a little about this pair. You can see it in the related link below. Until now there have been no signs of reversal.
The existing pattern forms a broadening bottom, a pattern of continuing trend. The key point lies in the support line, if the line is broken then it has the potential to test the next support. But if it fails, and shows signs of reversal, the next move has the potential to be form higher-high in the broadening pattern.
Examples of reversal signs: Bullish Engulfing, Pinbar with long lower tail, Hammer etc.
The existing pattern forms a broadening bottom, a pattern of continuing trend. The key point lies in the support line, if the line is broken then it has the potential to test the next support. But if it fails, and shows signs of reversal, the next move has the potential to be form higher-high in the broadening pattern.
Examples of reversal signs: Bullish Engulfing, Pinbar with long lower tail, Hammer etc.
Comment:
The support line has broken. I'll go short when price makes some rebound corrections.
