When we were looking at this pair the last time, we expected a break out of the triangle formation on the bigger timeframe, a confirmation of this move and then a bullish
motive wave. The price broke out of the triangle, and has made a smaller correction and bounced back up from the upper line of the triangle. We are expecting that bullish
move to happen now shortly. The price may stumble around the upper triangle line a bit before that, but we do not expect a big bearish
move right now.
On the 4H chart, we can see, that a double top
has formed, hence the bearish
move that we are in right now. Again, we do not expect a big bearish
move at the moment. Looking for a bullish
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