This pair is technically still and that is my long term bias however there is
a long term descending in which a formation was made at this as price failed to make a higher high. In addition on weekly chart a few weeks back we had a signalling movement. If price breaks support/neckline and ascending @ 2.147 level our formation will be valid and a short entry can be warranted.
Target will be 2.10 as this lines up perfectly with previous support and is also the size of range which is the and neckline added on.
We have a long bias due to the and price making continuous lower highs and higher highs.
price is approaching a strong ascending , 61.8 fib level, dynamic S/R (inbetween Ma's) in which a potential can also be formed @2.147. A new higher high is due and I believe we could see it very soon. Furthermore we have a potential formation which is still valid and playing out and our fib extensions of this move -127 is also in confluence with major monthly .
If good price action presents itself around the 2.147 level a long entry can be taken however for more confirmation you can wait for a break and retest of counter or better yet a break of previous swing high @ 2.208 level to target the D extension at around the 2.30 area.