We can see a head and shoulders formation on 1h chart with price breaking neckline and testing as resistance right now, there is also a double top on the daily chart which gives us more confluence for a reversal. Price action has not been able to break with momentum past 88.80- 89.00 area to the upside (89.00 also psyc level) and this resistance level is from dec 2015. There can be an equal measured move to the downside as well as it lines up with fib extension 1.272.
Targets are 87.20, 87.00 and extended tp is 86.40.
SL 88.48.
Targets are 87.20, 87.00 and extended tp is 86.40.
SL 88.48.
Trade closed: target reached:
All targets reached!:)