Trend from the monthly, weekly, daily and 4 hourly has been bearish, however a momentary bullish move on the 1 hourly. At price position of 1.08408, there is a significant zone, you can see the resistance line which also shows tendency of price to reverse and continue its bearish trend in the falling channel.
On M30, an inverted hammer has been imprinted, suggesting and further confirming a sell, RSI too is at overbought position.
On M15, a series of Dojis where formed signalling exhaustion.
pulling back to the H1 Tf, you can clearly see a bearish divergence suggesting a soon short position. All these conflunces gives the right bias to go short. However, we wait for price action confirmation on M15. Once the candles break through the Blue H1 bullish trendline, pulls back, then we short the pair.
On M30, an inverted hammer has been imprinted, suggesting and further confirming a sell, RSI too is at overbought position.
On M15, a series of Dojis where formed signalling exhaustion.
pulling back to the H1 Tf, you can clearly see a bearish divergence suggesting a soon short position. All these conflunces gives the right bias to go short. However, we wait for price action confirmation on M15. Once the candles break through the Blue H1 bullish trendline, pulls back, then we short the pair.