This one is a bit tricky.
Price broke the trendline to the downside and now it looks like it is re-testing it. However, it looks too simple to be true, especially ahead of such an event like NFP.
As trend is up, I suspect another high or a strong spike higher might be in the cards before we see a reversal. Nevertheless, as always it is wiser to stay away until the risk event is behind us.
All in all, this pair is worth tracking next week.
Price broke the trendline to the downside and now it looks like it is re-testing it. However, it looks too simple to be true, especially ahead of such an event like NFP.
As trend is up, I suspect another high or a strong spike higher might be in the cards before we see a reversal. Nevertheless, as always it is wiser to stay away until the risk event is behind us.
All in all, this pair is worth tracking next week.