Ascending triangle pattern coming to completion.
Bias is bullish.
Two ways to play it -
1) Buy now and hold, hoping it breaks out (best profit potential)
2) Wait for breakout of triangle and then enter position.
Stop if price breaks the triangle to the downside.
Momentum is bullish.
Price has broken out of range.
Has been roughly respecting the 50mA recently.
Wait for pullback to support line and wait for 50mA to catch up to price.
Buy if there is a bullish reversal candle.
Currently in a bullish trend, now pullback after parabolic move.
Confluence of resistance, 50mA and previous upward trend line could be a good place for price to bounce-back.
Enter in the highlighted area on bullish reversal candle.
There are some mixed signals from the price action of this pair. You could argue the latest retest resembles a bull flag, or the chart formation looks a little like an inverse head and shoulders.
At the moment my bias is still bearish as fundamentally we still have lower highs and lower lows. We also have the pin candlestick rejection from resistance.