This pair is depreciating more and more, the previous daily candle closure was a huge bearish engulfing candle suggesting that we could potentially see more selling pressure leading into next week. Now that price has broken the small ascending trend line marked, I would expect a slight pullback followed by more aggressive sells. I have marked the levels I am interested in as well as a potential SL placement zone, this is simply a forecast we would need to see how price opens and reacts on Monday before considering any selling opportunities.
According to COT data source - 36.8% are short
(This does not change my bias because COT has not been very accurate with the current market conditions)
According to COT data source - 36.8% are short
(This does not change my bias because COT has not been very accurate with the current market conditions)
