With price pushing up against this resistance area
@ 1.28, which has multiple points of resistance (psychological, .50 fib retracement from early Sept, and horizontal resistance.) There is an opportunity to enter short, with a good RR ratio (2:1). With the overall trend being down, this trade would be in the direction of that trend. Use caution once price approaches the 200 ema
, and the upward trendline
. Timeline for the trade is short term, although if price breaks through the 200 EMA
and the upward trendline
, continue to hold.