This pair is developing and interesting triangle. The price is staring to move in a shorter area and for me it looks like a nice buying opportunity in the long term.
I will be looking for an entrance in the following scenarios:
Option 1: If the price breaks up the resistance level (with a proper retest on it)
Option 2: If the price makes one more bounce to the trend line in the reduced area and then breaks the resistance level.
Option 3: If the price breaks the trend line instead of bouncing up
I will be looking for an entrance in the following scenarios:
Option 1: If the price breaks up the resistance level (with a proper retest on it)
Option 2: If the price makes one more bounce to the trend line in the reduced area and then breaks the resistance level.
Option 3: If the price breaks the trend line instead of bouncing up