At first sight this pair looks messy but doing a top down approach i can see what the price is telling us more clear.
First take a look at monthly chart
The price needs a deeper correction at a strong resistance.
Weekly chart analysis
The big bearish divergence is still in play
Here on D1 chart we see a clear sequence of HH,HL. Finally the price broke the trendline and retested it at the 0.61 fib retracement.
We can see also a HS pattern forming.
May be we are at the poing C of a future bullish pattern also.
The entry is a the retest of 120.00 level to have a better R/R ratio
Best regards.
First take a look at monthly chart
Weekly chart analysis
Here on D1 chart we see a clear sequence of HH,HL. Finally the price broke the trendline and retested it at the 0.61 fib retracement.
We can see also a HS pattern forming.
May be we are at the poing C of a future bullish pattern also.
The entry is a the retest of 120.00 level to have a better R/R ratio
Best regards.