A big test for how strong the bulls are in this market is coming
A big test for how strong the bulls are in this market is coming up on the daily chart of this pair.
As the daily chart shows; price recently attempted a move higher before it was heavily sold back lower.
This same resistance level presents a major test for any bullish momentum.
Whilst price has been making some solid swings both higher and lower, price has not made a substantial trend in either direction for months. Price is now trading at the exact same point that it was back at the end of July.
We can expect this sideways movement to continue in the short-term and to offer trades from both the major support and resistance levels.
As the daily chart shows; price recently attempted a move higher before it was heavily sold back lower.
This same resistance level presents a major test for any bullish momentum.
Whilst price has been making some solid swings both higher and lower, price has not made a substantial trend in either direction for months. Price is now trading at the exact same point that it was back at the end of July.
We can expect this sideways movement to continue in the short-term and to offer trades from both the major support and resistance levels.
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