We have also been moving in a 500 pip range in the recent weeks 1.44-1.49.
After a fail to the upside now a dynamic break to the downside occured in the recent days.
The move lower was very intense and convinced me, that the bears are strong enough and willing to take the price lower from here.
I am looking to sell at a retest of the very important breakout area of 1.4420 with a stop above the psychological important 1.45 handle at 1.4520.
I am willing to take the risk of 100 pips on this pair for a move toward 1.37 and a profit of ca . 700 pips.
I urge everyone to use proper risk management, dont risk to much, and stay conservative, building constant profits.