This forex pair has been in consolidation for some time now and rarely trends, but when it does trend there
is usually a lot of profit for the taking.
At the moment, price is above the Weekly 200 and below the Daily 200 so this is giving conflicting messages. We want both timeframes to be telling us the same information to have confidence in knowing which way to trade it.
When we are getting mixed message we want to stand aside.
If price can break through the consolidation then we may see opportunities for long trades but price will first need to move above the Daily 200 .
Right now we must stand aside and wait to see which direction price breaks out of the consolidation area.
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!