I am coming back with an excellent SHORT setup on this pair. Its a very reliable Head and shoulder pattern.
As described in the chart, we could go short on the pair at current levels and take profit at around 131.00 That gives us about 400 pips of profit. The failure for this pattern is just above the high of the left shoulder and thats at 135.26. So I will be placing my stop loss @ 135.55.
I will follow up with this post as and when I see some developments.
Hope you all have a great trade with this idea.
Happy trading and happy pipping!