Medium term trend: Down
Significant levels: 1.3 (Significant Round Number), 1.27 (Horizontal Resistance), 1.25 (Horizontal Support)
As the trend is currently down, it would be logical if we should find a trade to go Short. And this that formed recently is what we are looking for.
Recently, this pair made some retracement up. This could be our opportunity to go Short as this pair is really weak as of now. Currently, the price is making an which is normally a continuation pattern. A , followed by an could be an indication of the continuation of the trend. Take note that the formed at/near the resistance.