A longer term outlook on this pair. It has posted higher highs and higher lows over the course of the last half year. Last month and this month it seems to be breaking out of its ranging behavior from earlier this year and looking to make moves upwards again.
On the Daily we see seller rejection with the long wicks and an indecision candle forming, the channel bounce supports further up movement from here in that it's likely to follow it up since it bounced twice before. Furthermore the 3 touches down support for a possible channel break (let's see here).
I'll enter on the 12 hour chart when price makes a clear higher high, it's then likely to make a new higher high near the next Support and Resistance area from June 2015 at the 0.7 price zone and perhaps even further.
Comments or idea's, please do let me know below. Thanks for reading!
On the Daily we see seller rejection with the long wicks and an indecision candle forming, the channel bounce supports further up movement from here in that it's likely to follow it up since it bounced twice before. Furthermore the 3 touches down support for a possible channel break (let's see here).
I'll enter on the 12 hour chart when price makes a clear higher high, it's then likely to make a new higher high near the next Support and Resistance area from June 2015 at the 0.7 price zone and perhaps even further.
Comments or idea's, please do let me know below. Thanks for reading!
Trade active:
On it goes
Trade closed manually