Just as our last analysis stated, we saw the sharp drop on this pair on Friday last week.
Coming into this week, price traded into a daily level of support and started showing some rejections.
And so with the impact of the current USD news, the dollar became strong.
Now, we see bullish momentum stepping in to push price.
As we have broken out of the recent region, we expect a pullback to lock us in for sells. We want momentum to be in our favour.
Coming into this week, price traded into a daily level of support and started showing some rejections.
And so with the impact of the current USD news, the dollar became strong.
Now, we see bullish momentum stepping in to push price.
As we have broken out of the recent region, we expect a pullback to lock us in for sells. We want momentum to be in our favour.