Price will have to fill the FVG at the bottom. Price did a Breaker Retest on the Monthly time frame meaning it is bullish in the long term but for now it is bearish. Let us see what Price will print.
If Price does not break market structure it will be a little retracement into the order block and down to fill the FVG down there.
DXY at the moment is weak meaning GU is going to buy for a very long time until fundamental factors set it. Price would want to fill the FVG since it is the path with the least resistance.
Two scenarios are likely to happen 1. Sorry I did not take the FVG at the bottom into account. Price is going to fill the FVG at the bottom and then go strongly bullish 2. Price will go bullish and later come to fill since everyone is waiting for it to fill the gap so the Market Makers will manipulate price to get Sell side liquidity
You can see price moving downward, repackaging price for another push phase at my optimal trade entry (OTE)...Price is moved downward by the big bank looking for institutional interest where it was spotted using my classic Fibonacci tool (79%). so we waiting for big banks to manipulate price downward then we buy at the 79% Fibonacci or sweet spot (OTE)...THANK YOU!!!
The DXY is still very much bearish, every retracement on a bullish side can be seen to either fill up gaps or correct Price Inefficiency. What this means for Dollar based pairs? EU still shows signs of bullishness on HTF in contrast to GU which shows bearishness on Weekly though the monthly bias still remains bullish. EU yet to break its bullish...
Trade within the range before an expansion or wait for the expansion. Up to you.