Finally the time has come! On the the weekly and daily time frames we see price has printed a higher high and has broke out of our weekly squeeze. We look to take advantage of longs after price comes down to print a higher low and retest our daily trend line before heading back to the upside. Patience will be tested in this pair. Opportunities for long entries may now be available until next week. Just keep an eye on this pair with the upcoming week or two. Confirmation for entry is needed on the lower time frame. Confirmation may be represented by bullish engulfing bar or pin bar.
My Analysis are for educational purposes only. My post are not signals! Trade at your own risk. Happy Trading!