On Monday's Open, Price has rejected the Descending trendline
and continue to drop
towards 1720 Level where it found new presence of Buyer. However, the EMA
14 has crossover to the downside indicating a potential Bearish
Tideshift if price managed to form a new LL show continued sign of bearish
As of now, I'll wait for price to form clearer price action before deciding to look for a setup on this pair.
Overall my bias is still Bullish
atm. However I still believe that price has more room to go on the downside before it continue to push higher.
Bias = Bullish
Structure = Consolidation, potential Falling Wedge
Setup = Yes, 4H MSB 62 Bounce