Hello Traders!, We're expecting more USD weakness for this trading week as we look ahead to see what pairs can be traded against USD, here we have a great opportunity to take advantage of some short-term range within a channel down. What Is The Market Telling Us?
We could be in a bullish trend for the long term as there's been a pivot point @1.33500 level
Price has been ranging within our channel for just about two weeks, giving us a strong indication that the channel is being respected
Bullish crossover of moving averages is incoming which could give us a sign that price is heading towards the channel resistance
When Should We Enter?
We can wait for a pure retest of our support level @1.35300 followed by bullish signals (candlestick pattern etc) before BUYING If we do not get a valid retest of our support, we can wait for price to violate our recent high of @1.35600, (BUY STOPS etc)