I anticipate more sellers coming into this pair, as well as in the stock indexes, so it's wise to be positioned on the short side for the coming weeks.
There's a deadline for price to hit my first target, which should be achieved by February 7th or earlier, as well as potential for an extended decline reaching all the way down to my second target at 1399.01.
In the short term, short sellers can book partial profits on a retest of the recent weekly low.
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If we don't see a sharp move down in one day, it might be safer to keep a wide stop and wait for the weekly confirmation (this and next week, to reach targets on chart)
I'll short any rally, with a tight stop above the new weekly mode here.