Hello Traders,
Our previous analysis almost hit our target, which you can find in related ideas.
Price is forming a very tight channel and I don't like trading under such conditions.
Ideally, we want price to breakout to the downside, targeting the recent low at 106.800, but only if price does breakout.
Otherwise, I'd keep my distance from this pair for some time.
I wish you all a happy weekend.
Our previous analysis almost hit our target, which you can find in related ideas.
Price is forming a very tight channel and I don't like trading under such conditions.
Ideally, we want price to breakout to the downside, targeting the recent low at 106.800, but only if price does breakout.
Otherwise, I'd keep my distance from this pair for some time.
I wish you all a happy weekend.
