Price is clearly respecting structure on this downtrend, the sensible thing to do is trade the trend until new structure becomes aparent. I have illustrated the potential next move for this pair, I have also marked the level where if broken my bias would change to a buy.
According to COT data source - 21.3% are short
(This does not change my bias because COT has not been very accurate with the current market conditions)
According to COT data source - 21.3% are short
(This does not change my bias because COT has not been very accurate with the current market conditions)
