I said this many times before, that this pair is really annoying. But, at the same time, it is very interesting to observe what the hell it is doing.
So, if this is really going to be what I think it's going to be, then we could see some potential upside. And I mean that this could be a H-a-S (apologies for a sloppy drawing and not connecting the points evenly).
If this going to be the case, then you can try to enter a BUY on the next pullback, with a STOP around 0.87600 and run this pair at least to the "neckline" and then maybe higher.
Or, you can wait until it will confirm the the break of the "neckline" and then jump in. But, because I don't trust this pair, I would probably risk it and just gamble. Because with this pair, it is about always a pure gamble.
No, certainly, the H-a-S idea might not work, if we will see a move towards the 0.87600 level and then a break lower.
As always, be careful and keep an eye on the price action!
So, if this is really going to be what I think it's going to be, then we could see some potential upside. And I mean that this could be a H-a-S (apologies for a sloppy drawing and not connecting the points evenly).
If this going to be the case, then you can try to enter a BUY on the next pullback, with a STOP around 0.87600 and run this pair at least to the "neckline" and then maybe higher.
Or, you can wait until it will confirm the the break of the "neckline" and then jump in. But, because I don't trust this pair, I would probably risk it and just gamble. Because with this pair, it is about always a pure gamble.
No, certainly, the H-a-S idea might not work, if we will see a move towards the 0.87600 level and then a break lower.
As always, be careful and keep an eye on the price action!