SHORT SHORT SHORT !
Ever since the breakout of the up trend i have been screaming short. Late last year we saw a breakout of the up trend a retest and continuation. It broke out and retesteed the trendline which was confluent with a 50 fib retracement. It then melted to 0.94 where it has found some support and is retracing. It has already hit the 38.2 retracement but that wasn't enough to bring it down, looks as if it will retest the 38.2 fib again creating a double top before falling and reaching the target 0.92 which is confluent with the 38.2 extension! i wouldn't be going long with this pair at all!
Ever since the breakout of the up trend i have been screaming short. Late last year we saw a breakout of the up trend a retest and continuation. It broke out and retesteed the trendline which was confluent with a 50 fib retracement. It then melted to 0.94 where it has found some support and is retracing. It has already hit the 38.2 retracement but that wasn't enough to bring it down, looks as if it will retest the 38.2 fib again creating a double top before falling and reaching the target 0.92 which is confluent with the 38.2 extension! i wouldn't be going long with this pair at all!
