The pair is currently around a key trend line. Price has attempted to break through twice but hasn't held it's ground. We have a bearish hanging man on the 4 hour chart which signals a reversal and movement to the downside. Stochastic is also in overbought conditions. The most previous candle on the 1 hour chart was a doji indicating weakness from buyers to the upside.
In the long term this pair may be heading up but for now I believe it's heading towards the most previous structure low.
In the long term this pair may be heading up but for now I believe it's heading towards the most previous structure low.
Trade closed: target reached:
Set up reached target for 146 pips profit.