From the H4 perspective price is moving in a uptrend channel where price recently approaching to the support level of 1.5950+-.
Falling wedge pattern can be observed from the lower timeframe, where seller may exhausted as the price comes to this support level.
Breakout trade from 1.6000 to previous swing high of 1.6150 can be considered, or buy limit order from the support indicated.
Monitor on coming Monday during US session for confirmation of direction.
Remarks from author
1)This analysis does not represent long or short trade immediately, it is solely on the author analysis
2)Trade at your own risk with proper lot sizing and follow your own trading plan
3)Risk management is always be the top priority
Falling wedge pattern can be observed from the lower timeframe, where seller may exhausted as the price comes to this support level.
Breakout trade from 1.6000 to previous swing high of 1.6150 can be considered, or buy limit order from the support indicated.
Monitor on coming Monday during US session for confirmation of direction.
Remarks from author
1)This analysis does not represent long or short trade immediately, it is solely on the author analysis
2)Trade at your own risk with proper lot sizing and follow your own trading plan
3)Risk management is always be the top priority