I would want to see a break of 1.645 area for more potential to squeeze more pips out.
Otherwise, It will also be a good area to take a long till the next zone which is - 1.675
3 Scenario that can play out...
I am more inclined to the 1st or 2nd one base on trench analysis.
The reason why 1st scenario is not so supported because of the decline in volume.
2nd scenario gives us a "buy low" entry which is better.
Waiting to see more action at the zone at 1.06 zone.
If price breaks up, we would expect a reversal and price could easily visit 1.08
On the other side, If price could not break up, It will visit the lower range of the range - 1.046
Bullish as long as 0.84 holds.
0.84 zone is the key level to determine if the uptrend holds or not.
We could look for PA for additional confirmation to enter a long trade.
Should it be broken, 0.808 would be reach easily.
Price moving in a range.
Slightly bullish as long as 1.215 holds.
I would put a limit at 1.215 to prep market whipping out weak long.
Alternative, a breakout of trench and RT back with a green candle would be a good sign to long
HSI is in Bear mode IMO, as US is about to come hard on China exports. (Remember Stocks are leading indicators)
I will be standing with BEAR for now.
Every Pull Up can be considered as opportunity to Shorts or add shorts.