Lower time frames directional biases is strong buy. Higher time frames show sell. I believe we are headed up to the 61.8% weekly retracement level to the weekly downward trendline. Highest level for 2019 1.34220. Pullback to 38.2 1.31098. Downward trendline broken by price. Looking for pull back for buy entries at 1.27200 & 1.28024. Forgot to post this...
Resistance on the monthly chart. No true bearish indicator of long-term short.
I'm thinking there's a small opportunity for a buy up until the trend line @ 1.78000. I then believe that price will fall to complete the right shoulder on the daily to 1.72000 area.
I marked this up for the buy and the sell. The sell is playing out.
I think there is a short term buy opportunity to 147.20. After which I see price falling. On the daily, price appears to be forming a descending wedge. To complete the wedge price would have to fall to 142.
I believe there is a small buy opportunity to 1.73520 before we can tell what's going to happen. On the weekly chart, price looks like it has to reach this level before we can tell if it will retest the CTL or it's going to break through and go up. 1.73520 is also at the 61.8% fib level on the 4 hour.
Looking for a sell on this pair. Rejection off of resistance at 147.776.
I marked up the sell and the buy. The sell is playing out.