This pair start to make a bearish movement after uptrend was completed at 1.5144 from 1.3748 level. Bearish momentum is now in favor but this is not a confirmation of a downtrend. Breakout can be seen on daily chart, which break the bullish tunnel to go down. Bull is losing control, and the bear is now back in control.
However, bearish trend will end if the price move above 1.4800 and the price will oscillate for a while as the bull is fighting the bear. If this happen, trading should be avoided. Only when the line is clear then the trade can be made. Well, this is the plan for my weekly forex trading.
However, bearish trend will end if the price move above 1.4800 and the price will oscillate for a while as the bull is fighting the bear. If this happen, trading should be avoided. Only when the line is clear then the trade can be made. Well, this is the plan for my weekly forex trading.
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