Looking at the chart in H4 timeframe, we can see that the overall trend is down. Market has been consolidating and grinding up slowly since hitting a low 0.8460 but still contained below resistance zone 0.8530. Possible scenarios:
a) if price breaks and closes above 0.8530, then will be looking for long entry to trade up to next resistance zone around 0.8660.
b) if price breaks and closes below the ascending triangle, then will be looking for short entry to be in line with overall trend.
a) if price breaks and closes above 0.8530, then will be looking for long entry to trade up to next resistance zone around 0.8660.
b) if price breaks and closes below the ascending triangle, then will be looking for short entry to be in line with overall trend.
