The pair is approaching an important level, I am looking for possible buy entries here and the continuation of the up trend, but in the event of a confirmed break below it will give a short term sell opportunity.
got the first touch of the trend line today
As mentioned earlier in the chart I am looking for possible buy opportunity with confirmation to materialize either today or tomorrow.
From these two scenarios i most likely believe that price will move up.. It looks to me that we are in a corrective wave 4 and there is wave five to complete.. But i agree that if price breaks below the trendline sell is the way to go after a consolidation.. Keep the analysis up mate.. Great work you are doing..!
that may be a driving factor yes but to me even in these rate decisions also it all depends on how the market choose to react. You may take examples of market reactions historically, some are completely opposite to what you would expect like in the recent case of EURUSD with regard to ECB rate decision.