Weekly: The pair is still contained within the range weekly range of the Shooting Star Candlestick. The pair has consolidate for 2 weeks in the range. A break of the range would expose the upside at 151.8. Alternatively, a downside break will expose the downside at 145.5 & 140.25.
Daily: Looking closer we can clearly see the pair is contained within the range and it has shown 2 rejection on the top of the range. For now the pair seems ready to retest the upside as it printed 3 consecutive bullish candlestick 3 days in a row. A rejection on the resistance would expose the pair to the bottom of the range at 147. I would expect the downside to be relatively contained within that region as it lineup with the Dynamic Support and the trendline.
H4: The pair has broken above resistance 148.5 and challenged the 149 psychological level where it found strong resistance as it printed a Shooting Star formation. Thus I will be expecting the pair to reject off this level and retest the resistance turned support at 148.5. A rejection at this level will expose the pair to the upside at 149 & 149.6. Alternatively, a break below the support 148.5 would expose the downside at 147 level.
