I do not trade this pair, but as a educational purpose I see this pair going down in upcoming weeks. I can be of course wrong, but even that if I have to trade it I would consider only to trade it by going to the lower time frames and looking for opportunity to sell.
On the chart we have cluster from Fibonacci lines and also we have similar corrections.
There is also almost not seen broken trend line. The reason I never use trend lines is that I don't like the idea of market being diagonal entity. Some may argue that the trend is up because of this trend line, but for me, I could be wrong on this but I don't care, cause statistically in my trading I never use diagonal lines, cause market almost always proves me wrong about trend lines and clusters works better. In fact market can even go down after broken trend line, finding "infinite" amount of support from broken trend line and this is the another reason why I don't use diagonal lines.
Continuation at the comments (scroll down).
On the chart we have cluster from Fibonacci lines and also we have similar corrections.
There is also almost not seen broken trend line. The reason I never use trend lines is that I don't like the idea of market being diagonal entity. Some may argue that the trend is up because of this trend line, but for me, I could be wrong on this but I don't care, cause statistically in my trading I never use diagonal lines, cause market almost always proves me wrong about trend lines and clusters works better. In fact market can even go down after broken trend line, finding "infinite" amount of support from broken trend line and this is the another reason why I don't use diagonal lines.
Continuation at the comments (scroll down).