So, i'm not too confident on this one, but I will give it a try, below is my review about what I think, and the respective possibilities on this pair:
1- To start, and giving some attention to a higher time,H4 time frame, we could make a comparation between the last trend, and the one, that in my opinion is finishing now,(Impulsive wave) and the sellers were a lot stronger than buyers, simply watch the candles power and lenght.
2- I could see an almost finished impulsive wave too, and I think for now we will see a corrective wave, probably to retest again later the resistance zone, for what I watch in D1 time-frame, I think the pair have the possibility to go bull, but not for now.
3- Another point that make me think about the pair is going bearish too, is that the pair is on the last downtrend 50% Fibonacci level, with that we could watch a double top, that are not strong enough to pass the resistance zone.
So, I will wait for a confirmation after the market open, but i guess the pair will go SHORT for now.
1- To start, and giving some attention to a higher time,H4 time frame, we could make a comparation between the last trend, and the one, that in my opinion is finishing now,(Impulsive wave) and the sellers were a lot stronger than buyers, simply watch the candles power and lenght.
2- I could see an almost finished impulsive wave too, and I think for now we will see a corrective wave, probably to retest again later the resistance zone, for what I watch in D1 time-frame, I think the pair have the possibility to go bull, but not for now.
3- Another point that make me think about the pair is going bearish too, is that the pair is on the last downtrend 50% Fibonacci level, with that we could watch a double top, that are not strong enough to pass the resistance zone.
So, I will wait for a confirmation after the market open, but i guess the pair will go SHORT for now.