There might be a bullish run for this pair after a strong impulsive bullish movement. It has been consolidating to the down side (bearish) for quite sometime and it is time for the bulls to regain control.
if price gets rejected from the resistance line and forms a Head and Shoulder pattern the price will probably will go bearish.
Anticipated bearish trend continuation: if the price does not break or interfere with the resistance and there is confirmation to go bearish, the market will continue its bearish move to complete the second move of the three phase correction (XYZ)
This is an inverted head and shoulder pattern. The trend is up and there is every possibility that this pair will go long on the long term
This chart currency pair in the long term is showing a bearish head and shoulder pattern which is obviously a down trend. I am expecting to see more decline in the weeks/months to come.
I am waiting for a retest( pause and go) of the broken consolidation area before riding trend again
The pair I gaining strength and will hopefully rally to the downside after a possible test