This pair will be on the watching list for the next week. I will be looking to short this if I get a test around 148.00.
The entries will be based on a smaller time frames since I don't usually use that big stop losses but I see a huge sell coming in here with targets around the weekly lows.
- Price at weekly resistance
- Daily buyers fading
Possible scenarios of this trade:
- Retest 148.00 and hold below it before the drop
- Slow retest of the highs and then drop .
The buying momentum looks too strong so far. I will wait to see if it reflects the recent breach starting point around 150.00.