This pair caught many traders off guard yesterday session, Myself included. Almost everybody is expecting one last pull/short before long. Well bad news, market does this all the time especially on popular pair. Going forward, we have a fresh upward move in short term awaiting for new lead.
Beginning of new trend for this pair, it's going to be channeling down with very deep pullback.
In higher TF. this pair is in downward channel state and currently under consolidation. Once the consolidation is done we can expect a major drop.
Continuing higher Tf uptrend, with euro strengthening against some currency. Looking forward for a long next week.
Expect rebound as we are hitting a strong support and going short toward mid-works.
Two possible scenarios. Market is almost at equilibrium, hence the range but coming from uptrend it is bias to long.
Reversal momentum is strong and expected to hit next HH.
We are going to see pull to around 38.2 fib, before further going short
We are seeing lower low during last cycle, perhaps this will be the last run for current trend. Most like we will be seeing a range developing soon
While it seems that we have H4 breakout with trend line, supports price is still holding. Going forward, it is high probability that market is transitioning into a range before further news develop on brexit situation