We have seen a lot of bearish movement from this pair over the last 2 weeks. Price is now in the daily zone which is the decision point for the continuation or reversal.
If we look further into things we can see the balance of power. We see price matched its last high and bounced off resistance but we are seeing higher highs from support, in fact, you could draw a trendline going up into our daily zone
Considering we are very bearish I would expect more fall to the downside (considering we have a wick range that could be filled on the 4hr) which could push price to complete this range we are in but on the other hand, we could see a reversal up to resistance
I'll be waiting for confluences of either direction in our daily zone
If we look further into things we can see the balance of power. We see price matched its last high and bounced off resistance but we are seeing higher highs from support, in fact, you could draw a trendline going up into our daily zone
Considering we are very bearish I would expect more fall to the downside (considering we have a wick range that could be filled on the 4hr) which could push price to complete this range we are in but on the other hand, we could see a reversal up to resistance
I'll be waiting for confluences of either direction in our daily zone