This pair has been on bear market. A huge tailed bar formed at the close of last week, hinting a false break of the minor support line, but finding its support at the major monthly resistance area. The bulls make a huge comeback to push the prices higher but will the momentum hold its ground?
Summary: The market has been bear-dominated, but we might see a change in sentiment if the support area is strong enough to reject the prices moving further downside. As always we let the price be our master and we be listening to hear what the market is telling us before we can take initiate any positions on the pair.