The conclusion of such an analysis is a current contention between seller activity in the .382 to .5 area & buyer activity in the .786 to .618 area. The long-term MA, previously carrying downwards momentum, is being attacked by the buyers since Jul '20 for the second time now, last time in Jan-Apr '18 with a seller half-win situation, where though they caused the price down, they weren't able to bring it to a lower bottom, thus emboldening buyers at the .618 to bring the price up, where it is right now (in a resistance at the .5).
Since there's no decisive action by either side as of yet, we are going to keep tracking the pair but not biased in either way for the short-term at least, even if for the medium to long-term the bias is slightly to the long side, considering the two oscillator divergences indicating a weakening of sentiment, thus favouring the long side at the expense of the short side. We'll leave that for them to decide with their own money, and rather wait in the sidelines for a sharper edge against the market in a decisive countertrend move.
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An amazing week for all of you and until the next post! :)