From the weekly and daily time frame, the pair has been ranging between the bullish (blue) and bearish (red) order blocks. Recently it touched the bearish order block and failed to break structure. The pair is largely in a bearish trend. In the short term, a pull back to the bearish order block on the 4 hour timeframe is expected to disrupt the bearish momentum. The pair is poised to slide lower to mitigate fresh order blocks (green).
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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.