As you can see from the chart, I'm not convinced we are going down LONG TERM on this pair. Whilst we have see breaks of this upward trend, I believe this could continue going to the upside. My bias is based off of recent COT reports and retail forex sentiment.
Something I always talk about on my channel is that 70-80% of traders lose. So when we see that there is an overall, overbearing retail bias on a certain currency pair, then I tend to do the opposite of the majority.
So, I'm waiting for retail sentiment to flip bearish before I look for any long side moves on this pair.
Weekly analysis is currently rendering so it'll be up on YouTube soon!
Have a great week everybody!
Something I always talk about on my channel is that 70-80% of traders lose. So when we see that there is an overall, overbearing retail bias on a certain currency pair, then I tend to do the opposite of the majority.
So, I'm waiting for retail sentiment to flip bearish before I look for any long side moves on this pair.
Weekly analysis is currently rendering so it'll be up on YouTube soon!
Have a great week everybody!