Since the 6th of January, the price has been moving with a strong downtrend, once it got a rejection on the level at about 1.23500, ending its movement on the at about 1.20500, an interesting level that rejected the price many times in the past.
A couple of days ago, the price re-tested the same zone and it's now very close to its dynamic trendline.
The next price action around that zone will be essential to understand the next market movement.
The price is just moving close to a weekly trendline, failing many attempts to break the at about 1.20500.
I'm confindent to see a new re-test of the before getting a new uptrend, breaking through its dynamic descending trendline.
I'll be waiting for a re-test on the before planning my long position on this trade.
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