After an upward wave of the pair over the past two weeks, the price started trading this week with a corrective downward wave
The price initially received support from SMA 50 in yellow and signaled the end of the correction
However, the price continues to move sideways and is also trading below SMA 50
The price break of the moving average in this sideways move is a weak break that needs more confirmation
Thus, the price will drop and break it to the sideways area below, which will give an opportunity to sell towards the moving average line 200 in red
As for the price bouncing higher and returning to trading above the EMA50, it gives an opportunity to buy


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