We have anticipated the falling range before it happened. We are now in a critical area where all the indicators on daily timeframe are on the oversold area. We closed below EMA 21 after hitting the bottom of our identified falling channel inside a long uptrend channel . It could be a bull flag as well. Long positions seems appropriate but failing to bounce we...
We believe we have pulled back to gain more strenght for a next run up towards 1.25 area.
Unless we break the current uptrend channel, we believe it is going to test the resistance (blue line).