I forgot to link my previous idea, anyway, I proposed a short a couple of weeks ago, and I had exited that position on breakeven because we had a bullish divergence
. Now, this divergence played out, and the pair returned to value, and made a false breakout. I believe there is more room to the downside. If, at the previous low, there won't be another bullish divergence
formed, I expect this pair to move further down. Target is taken from the weekly chart. I have a soft stop on this trade.