Megaphone pattern indicates we are heading for the 5th touch up top. Price is at a daily supply zone. Narrow channel has been created on the 1H. Continued buying pressure on the support zone and a break of the 1H channel will signal a buy.
Looking for a possible buy at the supply zone. The candlestick patterns that form at the zone will determine our entry. Will also look at lower time frames to refine our entry using various technical analysis tools at our disposal.
Price is at a daily demand zone. We will pay close attention to how price reacts at this zone. Potential double bottom on the daily is on the cards but will need confirmation on lower timeframes to execute.
Price is relatively premature. The next few days will be key to properly forecast what is next for this pair. It is important to note we have a bearish structure on 4H but we will wait for confirmation break or look to sell up top.
Looks good for a sell in the short to mid term. Price just bounced off a daily supply zone and there is a head and shoulders reversal pattern formation on the 4H. However we might have another bounce off resistance zone before price goes down. Symmetrical triangle continuation pattern also provides confluence.
