As of last night we expected our pair to go upwards towards the red zone, it has made that move upward covering 13.6 pips from our previous analysis even though it hasn't reached our red zone yet. Also, I can identify that price might not just move upward straight or quickly as our analysis previous stated. It might be trending on the trendline drawn (in red above). So we are a caution to ensure that our trendline isn't broken. Two actions could occur right now for our pair. Either it tests our trendline and moves upwards or it breaks our trendline, and then does a retest of this trendline before moving downwards. Either way, we keep ourselves from going long for now until we see a bullish confirmation upon a test on our trendline or we expect a break of our trendline - followed by a favourable retest and then a move to the downside (this second move would mean that our red zone above won't be tested as we previously expected). So let's just keep an observing eye on the pair for now.
