The pair is inside a large corrective structure in the daily, weekly and monthly time frames, currently sitting at the bottom of this structure. I would be looking for the proper buy setup materialize in the lower time frames to enter long and expect to reach the top of the structure within a week or two.
Note: This is a highly volatile pair and an intraday move down may have a couple hundred pips and can look like a break down and bring panic for the novice trader, it's advised not to go long until you identify the buy setup and validate your entry.
IMPORTANT: The setups posted here are not trade calls or signals and are intended for informative purpose only and you should use your own strategy to determine entries and exits. They reflect my general view of the market and does not mean you should take the trades without a proper trading plan or strategy, If you would like to get all my setups together with exact entries and exits with please visit www.thepiphunter.com and subscribe.
Note: This is a highly volatile pair and an intraday move down may have a couple hundred pips and can look like a break down and bring panic for the novice trader, it's advised not to go long until you identify the buy setup and validate your entry.
IMPORTANT: The setups posted here are not trade calls or signals and are intended for informative purpose only and you should use your own strategy to determine entries and exits. They reflect my general view of the market and does not mean you should take the trades without a proper trading plan or strategy, If you would like to get all my setups together with exact entries and exits with please visit www.thepiphunter.com and subscribe.
