This pairing is in an interesting place at the moment because it is reaching weekly highs it hasn't seen since August 2010... 9 years, price is currently 100 pips away from this level so we could see a bullish run up to it.
Another possible outcome is the 1 we have drawn on the chart, price could come back down to retest this trend line that has formed and make a...
Market about to change trend and start selling.
RSI signalling overbought at 74 reading.
Get on sell and ride it out.
Warning; trading comes with risks, trade safely and within reason. All charts to be used for guideline purposes.
We've got this pair currently rejecting 23.60 Fib level but I believe it will push through this. USDJPY is moving in the same direction and these pairs like to move together, I will be shorting this down to 0.98364 support area. Could see a retrace back to the same fib level but have some US news coming up later where the outlook looks negative, so may not want to...