Since the 18th of January, the price has been moving with a clear uptrend, following a strong secondary trendline.
On the 1st of February 2021, the price reached the main at about 144.000, that quickly rejected it.
It is currently re-testing a daily S/R zone at about 143.100 and the next price action around that level will be important to confirm an inversion of this market.
The price failed twice the attempt to break through the main at about 144.000 and in the daily perspective few pinbars could be an interesting sign of weakness.
I'm confident to see the price breaking the current daily S/R zone and reaching the secondary trendline and eventually the next at about 142.200, level very close to the main trendline.
I'll be waiting the breakout of the current zone before planning my short position on this trade.
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⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
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