Now looking at the daily, it's time to play in anticipation. Look at the candle that formed two days ago, that kangaroo tail. It is very . Looking back on the chart, the accuracy of is not great, but considering where this kangaroo tail is, I believe a short bet should be taken.
I have closed my remaining position (entry in the linked chart section) and I have gone short, with a small position. I will add once the weekly impulse becomes blue.
As for targets, well I believe the least we'll see is 8.0. The question is if this pair can go below that. My trade plan is to keep adding to my short, and once we get close to 8.0, I will start taking profits, and leave maximum 50% on the table. If I will see a buying signal developing there, I will not hesitate to go long. If it breaks, I will consider adding back to my short.
Let's wait for 8.0!
However, last weeks weekly candle ended with an inverted hammer. With a follow-up this week, a top is in sight with a possible target price of 8.15/8.10.
Keep up the nice work!