On the 18th of January 2021, the price bounced on its wedge's trendline, getting a strong impulse.
Once it broke the daily S/R zone at about 74.500 and re-tested the dynamic trendline, the price moved up until its dynamic resistance line.
It is currently re-testing the same level and the next price action will be essetial to understand the next market movement.
In the h4 and daily perspective, the price is clearly following a constant uptrend and it has currently reached the dynamic resistance of its pattern, I'm confident to see an upcoming trend correction until its at about 74.600.
I'll be waiting for a proper rejection on the current level before planning my short position on this trade.
A possible entry point on this trade could be the level at about 75.450 (place an alert and keep this pair in your watchlist!).
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⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
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