Sideways Range in Play
There is a pretty clear sideways range in play in this pair with price rejecting the same levels on multiple occasions.
Until price breaks out of this range, looking to trade from the major support and resistance levels with high probability price action clues could be the best play.
As the daily chart shows; price is now testing a support level within this range.
If we can see this level hold with bullish price action we could look for a move back higher into the range high and resistance.
We could then watch the range resistance for more potential bearish price action.
Until price breaks out of this range, looking to trade from the major support and resistance levels with high probability price action clues could be the best play.
As the daily chart shows; price is now testing a support level within this range.
If we can see this level hold with bullish price action we could look for a move back higher into the range high and resistance.
We could then watch the range resistance for more potential bearish price action.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.