Hello Traders, This is a screenshot of my Analysis on this Pair. Price is currently giving us a strong retracement on the Monthly and weekly Timeframes after a strong Bullish Impulse in recent Months.
However, on the Daily Timeframe, Price is back to a Level of Demand Created during the Impulse Phase.
I will be Monitoring Price closely for a Bullish Daily Candle at this Level, Once I get a Bullish Rejection, I will Scale to my H4 Timeframe for Bullish Entries.
This Setup is only Valid if this current Level of Demand is Respected.