With this pair we have many confluences to the downside however we are currently ranging and i wouldnt be taking any trades during this consolidation period.
1.monthly chart January candle closed as a spinning top with the candle before that being a hammer.
2. Monthly all emas acting as resistance
3. Yearly fib drawn from 2016 highs showing price is ...
Fib drawn from december lows suggest this pair is still quite bullish, along with the 50 & 20 eras acting as near term support down at the previous weekly resistance level 1182.85 with also a significant hammer bouncing of the 38.2 retracement level.
i will be taking a long position once the long term trend line and Monthly resistance is taken violated and ...