Similar to the NZDUSD market we discussed yesterday, this pair finds itself in a period of tight congestion.
The other issue with this pair that is similar to the NZDUSD is that there are many minor support and resistance levels that could act as trouble areas for price to make a clean or free flowing move.
This can be an issue when looking for high probability trades because it increases the risk that price will continue to range and whip around and also the risk that price will respect one of these minor trouble areas and stop a trade out.
The other issue with this pair that is similar to the NZDUSD is that there are many minor support and resistance levels that could act as trouble areas for price to make a clean or free flowing move.
This can be an issue when looking for high probability trades because it increases the risk that price will continue to range and whip around and also the risk that price will respect one of these minor trouble areas and stop a trade out.
