After last week's strong sell of the GU pair, the pair finally ended up printing a semi-classic ish pin bar in the chart, which is showing us the probability of the bull's take-over of the market in the coming week.
In the above chart, technical analysis shows that for a couple of weeks now the price has been in a channel, going up and down before a bullish-tailed bar was printed last week, signaling to us the pair may probably go up in the coming week, meaning that the bulls may take over the market.
The reason behind the long bias: 1. The FVG has been rejected. 2. A bullish pin bar is printed indicating the bull's interest in buying the pair. 3. Choch has occurred.
In the above chart, technical analysis shows that for a couple of weeks now the price has been in a channel, going up and down before a bullish-tailed bar was printed last week, signaling to us the pair may probably go up in the coming week, meaning that the bulls may take over the market.
The reason behind the long bias: 1. The FVG has been rejected. 2. A bullish pin bar is printed indicating the bull's interest in buying the pair. 3. Choch has occurred.