I believe that the pair is neutral even though in the long term I am looking to buy.
Reasons I am looking to buy in the long term.
However, today I really cannot pin point any clear setup that can guide me into what to do next. My intuition is telling me that price will go lower, but I am currently sitting on my hands.
Reasons I am looking to buy in the long term.
- The 3 month and the monthly timeframe have broken above the previous notable high. This indicates that price is due to go upwards and that this massive retracement is so that price can go back and collect orders from a certain region.
- The next monthly targets are at 2.0375
However, today I really cannot pin point any clear setup that can guide me into what to do next. My intuition is telling me that price will go lower, but I am currently sitting on my hands.
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