On Monday Open, Price has continue to retrace higher towards the Institutional level 1.22. Now during the NY session, price is currently testing the Declining EMA
14 on the H4. The overall structure for me is still Bearish
, however if price failed show sign of rejections on the trendline
/resistance, it could potentially break upwards and formed a Bullish Flag
It is important to noted that today's is Bank Holidays in the US thus the volatility
will definitely be smaller.
I'll not be trading this pair for today.