Earlier today, the price went up to test September 2017's high and went back down. The H4 and D1 RSI is currently bordering overbought and the daily trendline is at its peak now. Shorting now with a tight sl just slightly above of the September high would be ideal for a good risk to reward ratio. Bears can aim for the following fibonacci retracement levels indicated in the chart to TP.
Comment:
H1 hammer had previously rejected the weekly high but the following candle has closed above it and it has repeatedly tried to test it for support for the past few hours. What's next? A daily close above 1.20890 will open up 1.21672 as its next major resistance. Use SL wisely.