Confluences for a reversal: - Price has been in this descending channel since Mid December, and this is the fifth touch leading to a red candle - Pricing is also hitting well respected horizontal resistance - Psychological level 17 pips above high @ 110.000
Factors against a reversal: - USD is Bullish - Price is above the 180 SMA (up trend)
Action: - Seeking price action confirmation before entry (retest of resistance, new candle to make a new low)