First important note: like most I presume, longer term I am bullish this pair.
However price is approaching .875-.88 zone which has provided support & resistance at key times in the past. Stoch RSI is overbought and there is deceleration on the Daily.
A convincing high test on the Weekly or Daily at this support zone may provide a value short-term short opportunity. Given this would be a counter-trend move, I will be very patient for price action on the Weekly/Daily before committing to a position. It may end up as nothing more than a consolidation zone in a longer term move up, so no entry just for the sake of finding a possible reversal zone.
However price is approaching .875-.88 zone which has provided support & resistance at key times in the past. Stoch RSI is overbought and there is deceleration on the Daily.
A convincing high test on the Weekly or Daily at this support zone may provide a value short-term short opportunity. Given this would be a counter-trend move, I will be very patient for price action on the Weekly/Daily before committing to a position. It may end up as nothing more than a consolidation zone in a longer term move up, so no entry just for the sake of finding a possible reversal zone.