Hello Traders, This is a screenshot of my Analysis on this Pair. Price is currently giving us a strong retracement on the Monthly and weekly Timeframes after a strong Bullish Impulse in recent Months.
However, on the Daily Timeframe, Price is back to a Level of Demand Created during the Impulse Phase.
I will be Monitoring Price closely for a Bullish Daily Candle at this Level, Once I get a Bullish Rejection, I will Scale to my H4 Timeframe for Bullish Entries.
This Setup is only Valid if this current Level of Demand is Respected.
However, on the Daily Timeframe, Price is back to a Level of Demand Created during the Impulse Phase.
I will be Monitoring Price closely for a Bullish Daily Candle at this Level, Once I get a Bullish Rejection, I will Scale to my H4 Timeframe for Bullish Entries.
This Setup is only Valid if this current Level of Demand is Respected.
