Monthly chart, market pair has been in a bearish trend since 1990 and has been trading with very little buyers. What sparked at interest in me to monitor this chart was the sudden price movement last month, where it broke consolidation pattern since 2014.
Price action on the Weekly Chart proved that market has broke key level with a strong momentum. Additionally, market has a large recover leg space for a huge profit taking.
Daily Chart, price action that broke previous bearish candlestick seems to state there isn’t much sellers into this pair as market continues to retrace to key level.
Hope everyone did catch this pair