1. Rejection of long term downtrend line 2. Retail traders flip long (contrarian signal for losses) 3. About to lose short term support line
.72 is the first target. Sell a break below the red trend line or wait for a bounce and sell aggressively. Give yourself 50 pips risk we're looking at a minimum of 300 pips on this play.
Trade active
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Short triggered at .7525 stop @ .7575 take profit @ .72