This pair tends to make double bottoms every swing low before continuing, so far price hasn't achieved one at Support which was our heavy Resistance before hand. An engulfing candle/ Bullish momentum would be a great indication that Buyers are in fact entering this area.
Price Action (Technical Analysis): The past week we saw this pair break above very respected highs, key resistance turning into support. Dropping into the Hourly-30Min time frame we see a potential Cypher Pattern forming, Price is pulling back into previous structure telling us to go long and our 200-100 Day EMA's are snapping at our ideal area of entry. Look for...
Price Action (Technical Analysis): Looking for a Bullish Hammer or Long Lower Shadow in the 4hour/Daily before entering long on the pullback to previous structure.
Fundamental Analysis: DXY, being shorted.
