The pair is trending down.
It is trapped in the big correction in weekly chart.
The pair just broke the ichimoku cloud in weekly chart.
Head and shoulders pattern was formed.
Nice hit and bounce back on the downtrend in 4 hours chart
The only thing we consider right now is the big support at 1.13
Patience is the key. The pair is still fighting to break the correction.
I don't think it has enough momentum to break the correction to go bearish.
If it s not the break out, we ll expect a double bottoms or head and shoulders pattern in 60 chart to go bullish.
I will update the signal to enter the trade on this pair when the time is right.
No trade right now.