Expect to short from 110.3 till 87.7.
Sorry for many lines. I hope you understand what i mean here. We timely not ready to sell now, probably we will see 1-2 weeks of struggling with PRZ zone, untill we will reach RED line.
Pull back - retest - fall with ABCD target. Under 200 SMA, under monthly trendline. Seems that we will retest the base.
200 ema perfectly working on weekly chart as sup.-res. zone. This pair respect it a lot, as you can see. If we will see brake of 200 ema only then i will start to look for short. If it will happen, target will be middle TL of channel.
Waiting for retest of this blue line very long time. Retest Middle pitchfork line + 21-EMA + blue dynamic TL.
As you see price retested upper channel TL. I'm going to sell this pair until price will continue to fall inside this channel, what was formed in 2002 and still valid.
We see on daily chart how price reacted from 0.618 fib, of course traders treat it as strong a resistance zone. From my point of view, we are in bullish market and that is why middle TL of chanell don't let price go down. Formed indecision candle. It means that we need to be patient untill price will be in this yellow box.
Big picture on this ugly pair. Good RR. Don't like to traide this pattern, but on Weekly charts it has better succesfull rate then on lower timeframes.
Next week 200 EMA will show us where we go next. Preferable trade downside in case of bearish pitchfork. Nevertheles if we brake up, expected 1.15. Everyone waiting for tuesday. No opened positions.
If price return to 45.5 i'm expect that price will go upside.
Do you still see here something like trend continuation pattern?
Buy in blue, sell in red. Easy, isn't it?