A week ago, I made prediction on this pair. I stated that the pair is in a strong downtrend on a higher timeframe. Price reached the resistance of the downtrend and got rejected strongly. I was looking for long term short positions since I saw a strong bearish engulfing bar. From the time of my prediction, price fell nearly with 185 Pips. I expect more decline this coming week. For new entries I will be looking for bearish continuation structures for sell positions.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.