Year-to-date Profits: +5,794 pips.
Weekly Best Bets Newsletter: http://bit.ly/2uEvQWF
This Month In Indexes newsletter: http://bit.ly/2tGqpcy
Want results like this? Join us: http://bit.ly/29x4bfM
On that swing down, it never broke below the previous low hit on 6 Sept, made a higher low, bounced and consolidated before making a second attempt to break below the previous low, which failed, forming a double bottom.
The subsequent correction up hit the 38.2% fib before pulling back down leaving a hanging man candle: last Friday saw no continuation of that pullback.
A strong bullish candle today would suggest it may correct up further, perhaps to the 61.8% fib at 0.7148 for a potential 2618 trade.
My bias is still short but it's a wait and see situation for me.
I've been saying this for a very long time. Here's the last FULL ANALYSIS I did on this pair. Go take a look and my overall outlook will be much clearer to you. This was a chart from a month ago so it's not updated: