**Weekly**: Currently on a previous resistance area, which potentially turn support.
**Daily**:
- The price is on a strong 200 EMA support.
- MACD is showing bearish trend with decreasing momentum.
**4H**:
- Overall structure is bearish.
- The price currently in a ranging period after an upside impulse.
- MACD is showing more bullish power.
**What to do now? When to buy?**
- I am towards buying bias since it is in confluence of key structure and 200EMA in higher timeframe
- As the price is in consolidation, I will look for potential price action, eg bullish breakout or range support, to enter a long on this pair.
Do be aware for the CPI report coming out later! GOOD LUCK TRADERS!
**Daily**:
- The price is on a strong 200 EMA support.
- MACD is showing bearish trend with decreasing momentum.
**4H**:
- Overall structure is bearish.
- The price currently in a ranging period after an upside impulse.
- MACD is showing more bullish power.
**What to do now? When to buy?**
- I am towards buying bias since it is in confluence of key structure and 200EMA in higher timeframe
- As the price is in consolidation, I will look for potential price action, eg bullish breakout or range support, to enter a long on this pair.
Do be aware for the CPI report coming out later! GOOD LUCK TRADERS!
Trade closed: target reached:
Congratz for those who take on the buying ride!
