There is still some more downside to be expected from this pair, pitchfork channel has been rejected on the 4H timeframe
as well as the ichimoku is still indicating down, until Chikou Span crosses price, I don't consider to go long.
this weeks event risk is not really going to send this pair any where to the upside, especially when we are expecting lower results for the USD events this week.(USD Advance Retail Sales (SEP))
I believe bulls are waiting to test lower levels before uptrend resumes, specifically the 105.470 is the level to watch.
RSI(below 50) and stochastic are not showing an oversold condition.
as well as the ichimoku is still indicating down, until Chikou Span crosses price, I don't consider to go long.
this weeks event risk is not really going to send this pair any where to the upside, especially when we are expecting lower results for the USD events this week.(USD Advance Retail Sales (SEP))
I believe bulls are waiting to test lower levels before uptrend resumes, specifically the 105.470 is the level to watch.
RSI(below 50) and stochastic are not showing an oversold condition.
