This pair is pushing higher like a madman and shows no signs of weakness what so ever. But it does not change the fact that we are against the channel resistance.
The whole rally looks a bit stretched but today is not the day to short this beast.
A break-out higher is very much in cards but choosing a target is not easy as we are inside a huge consolidation area on monthly TF. Hence any former support area could turn out to be THE new resistance, which is strong enough to end this rally.
Time will tell.
The whole rally looks a bit stretched but today is not the day to short this beast.
A break-out higher is very much in cards but choosing a target is not easy as we are inside a huge consolidation area on monthly TF. Hence any former support area could turn out to be THE new resistance, which is strong enough to end this rally.
Time will tell.
