- We are in an exhaustion phase. - We are in an ascending formation (bearish bias). - The current long-term bias is bearish. - The current med-term bias is bullish. - We trade med-term so we are looking for bullish setups.
*** We are now coming into a support level. Previously, bulls have showed a lot of strength in this ascending formation, with a new higher trend line forming. This means that we can expect a possible upside movement from this pair following a break of recent lows. [/b