Hey Traders,
The currency pair has been vacillating in a sideways channel. I suppose it will continue being in this channel considering the HIDDEN divergence that MACD has given rise to. I'm short-biased on this pair now. My only concern is the cyclic range of consolidation phase which the pair has been into. So, I would recommend to see if the price gets rejected whitin the resistance zone that we have already.
The currency pair has been vacillating in a sideways channel. I suppose it will continue being in this channel considering the HIDDEN divergence that MACD has given rise to. I'm short-biased on this pair now. My only concern is the cyclic range of consolidation phase which the pair has been into. So, I would recommend to see if the price gets rejected whitin the resistance zone that we have already.