The pair has been stuck in a range for quite sometime and price is contracting forming what appears to be a triangle, if so we would get an explosive move when the breakout does occur, possibly to the upside but it can break to the down too as is case with patterns like this, either way if we don't continue another complex correction which appears unlikely and do break it would be a great opportunity to ride it.
IMPORTANT: The setups posted here are not trade calls or signals and are intended for informative purpose only and you should use your own strategy to determine entries and exits. They reflect my general view of the market and does not mean you should take the trades without a proper trading plan or strategy, If you would like to get all my setups together with exact entries and exits with please visit www.thepiphunter.com and subscribe.
IMPORTANT: The setups posted here are not trade calls or signals and are intended for informative purpose only and you should use your own strategy to determine entries and exits. They reflect my general view of the market and does not mean you should take the trades without a proper trading plan or strategy, If you would like to get all my setups together with exact entries and exits with please visit www.thepiphunter.com and subscribe.