If markets go risk-off i think this can be a great opportunity to capture a move to the downside on this pair. Although a short squeeze is also very possible considering central bank stimulus around the globe.
Proceed with caution.
Proceed with caution.
Comment:
trade played out resistance zone held but our stop loss was hit, timing and position sizing was our error this time around
still opportunity to jump on though expect further downward momentum
still opportunity to jump on though expect further downward momentum
Momentum seems to be going up but still too soon to tell. a daily close above 140.50 would start to really reduce short position. Otherwise looking for reversal to add to short position.