- Previous Support
- Trendline/Channel Resistance
- been in a heaving overbought region for a long time
- 32,8 Fib Retracement from 24 Aug '15 high
With this setup we still need to exercise patience to wait for a confirmed sell signal. I'd prefer waiting for price to hit the 200EMA and test the 1,9875 - 1,9900 region, and then form price action.
If things fall into place we could be positioned for a strong downward move of 800 pips back down to the 800 at 1,9000.
Will keep the updates coming.
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