The pair has reached an area of resistance and looms ready to continue its downtrend. We see the formation of a Doji/Hammer candlestick yesterday. The next area of support is the 1.673 area.
If we look at the 2H timeframe (or 4H but it looks more clear in 2H) we see how the pair has broken the trendline of a very weak recovery right at the resistance area.
If we look at the 2H timeframe (or 4H but it looks more clear in 2H) we see how the pair has broken the trendline of a very weak recovery right at the resistance area.
I will look for better trading opportunities. This pair is now out of the watchlist