Possible short scenario as long as price does not break previous high as seen. Area also coincides with 38.2 fib level which adds more confluence to a possible short trade. More downside to come if price closes below 0.7720, could possibly head to trendline before a bounce up.
Comment:
Yellow long-term trendline drawn on Daily chart. Area to short (0.7780) also an area or resistance where price rejected multiple times as seen from the rectangle drawn on the Daily chart.
Trade active
Trade closed: stop reached:
Was in profit but risk appetite prevailed so it send Dollar tumbling down. -40 pips loss.