On the contrary leading indicators on the have started diverging the current sideway trend that would suggest the short term downtrend trend to begin.
Weekly has started diverging with price spikes near 45 level (Currently, at 40.7121), while slow is also stating indecisiveness and we observe %D line crossover above 80 levels on daily terms that generates selling pressure at this point of time.
Volumes are in conformity to the price slumps.
As a result, prevailing prices are slipping below 10DMA that signifies the current price drops would drag further to find strong at around 90.50 levels to bounce back again.
Trade recommendations: As the pair is likely to hit levels around 90.50, it is advisable to buy binary delta puts with strict risk appetite upto 91.50.