Now that the price broke the daily trend (red line) and go back to the monthly trend we can see an opportunity in a bounce over the SMA who has shown that it rejects the price constantly.
A buy set up is now in motion. Once price pulls back towards 1.11 and selling becomes exhausted price is then likely to begin rising towards the previous highs around 1.14.
I am seeking a buy entry on a 4HR candle around the 1.11 once price action presents a signal candle.
