The pair continues to trade in a range after breaking the areas of liquidity which we've set out. We expected to see price dump all the way down but it saw strong buying. I think we will see the buying continue in the following week.
BULL CASE
This buying may see price retest 111 after a potential short term consolidation at 110.4
BEAR CASE
The 110.4 is a last ditch effort for shorts to defend in order for the bear hypothesis to hold up.
BULL CASE
This buying may see price retest 111 after a potential short term consolidation at 110.4
BEAR CASE
The 110.4 is a last ditch effort for shorts to defend in order for the bear hypothesis to hold up.
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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.