If we take a look at the previous candle closure on the weekly time frame we can see that a huge bearish engulfing candle has been left with a wick, could this wick potentially get filled? The daily time frame is showing us indecision.
This pair is in a downtrend and we must respect it until certain down trend rules get violated, I have labeled our areas of interest.
Our bias long term is bullish on this pair, we are just waiting for the correct confirmation to get involved in a buy position.
According to COT Data Source - 59% Net Long
This pair is in a downtrend and we must respect it until certain down trend rules get violated, I have labeled our areas of interest.
Our bias long term is bullish on this pair, we are just waiting for the correct confirmation to get involved in a buy position.
According to COT Data Source - 59% Net Long
