We are at a key supply zone on the higher timeframes so we need to be cautious taking longs up at these levels, but we will continue to follow the trend until structure is broken.
Price is currently in a downward channel on the 1hour timeframe. We will wait for price to retrace back to the weekly level at the 125.8 zone. There will be good volume at that zone to push price in a strong direction and increase our R:R. Be patient with this pair.
Also note we are also heading into the last day of the week so volume could be on the lower side.
Price is currently in a downward channel on the 1hour timeframe. We will wait for price to retrace back to the weekly level at the 125.8 zone. There will be good volume at that zone to push price in a strong direction and increase our R:R. Be patient with this pair.
Also note we are also heading into the last day of the week so volume could be on the lower side.