The market is at the low end of the curve of where price action is currently trading.
I'm bullish on this pair, but I'll be even more bullish after there's a B.A.R. of the $9.8120. However, that may not happen for awhile unless there's some big news drop that'll help propel price to higher levels, but I would be anticipating some more bear action to assist in pushing price further down within that huge O.B that's currently underneath price.
If you look to the left of the chart within the EQ you'll notice all of those green candles which signifies potential profit margin to the downside. Price action has already moved more than 50% to the downside in correlation to the potential profit margin I just mentioned so I would wait for that zone ($8.6568-$9.1003) to be hit for any type of bullish trades.
If the bears end up dominating I would just wait for a B.A.R. of the $8.6568 level. The only issue with that is the fact that the zone is massive so if it doesn't hold you can execute certain positions within it in correlation to YOUR trading rules.
I've been recently seeing this currency pair brought up in the trading community which prompted me to do an analysis to see how it plays out. We shall see..
Also, if my analysis help YOU in any way, shape or form then please consider donating to the cause. It's appreciated.
I'm bullish on this pair, but I'll be even more bullish after there's a B.A.R. of the $9.8120. However, that may not happen for awhile unless there's some big news drop that'll help propel price to higher levels, but I would be anticipating some more bear action to assist in pushing price further down within that huge O.B that's currently underneath price.
If you look to the left of the chart within the EQ you'll notice all of those green candles which signifies potential profit margin to the downside. Price action has already moved more than 50% to the downside in correlation to the potential profit margin I just mentioned so I would wait for that zone ($8.6568-$9.1003) to be hit for any type of bullish trades.
If the bears end up dominating I would just wait for a B.A.R. of the $8.6568 level. The only issue with that is the fact that the zone is massive so if it doesn't hold you can execute certain positions within it in correlation to YOUR trading rules.
I've been recently seeing this currency pair brought up in the trading community which prompted me to do an analysis to see how it plays out. We shall see..
Also, if my analysis help YOU in any way, shape or form then please consider donating to the cause. It's appreciated.