Price has been ranging between 1.626 and 1.648 levels, with 1.626 level having strong support and 1.648 having strong resistance. Between this 2 level, there are still around 300+ pips of opportunity. Therefore I may try a long if price can reach 1.626 (and reject with a bull candle) and may short if price retraces to 1.648 (and reject with a bear candle). However, if either side is broken, I will look to ride wherever the price is going.
I am still slightly bear-biased because of the price closing with a bearish candle on the daily and weekly timeframe. I want to observe how price react to the support and resistance levels as mentioned.
I am still slightly bear-biased because of the price closing with a bearish candle on the daily and weekly timeframe. I want to observe how price react to the support and resistance levels as mentioned.