To begin with New Year series the pair has broken a strong support at 1.4725
The formation of was completed with candle to break below base line of this pattern to signal even more dips are underway coupled with other indications.
Leading oscillators ( and ) indicate downward convergence with price slumps on the charts of all time periods. Current is trending southwards at 37.1482 converging with every price dip.
While on slow curve, absolutely no scenes of crossover, currently %D line crossover is moving on even below oversold territory.
While the current spot FX is sliding below lagging indicator (21DMA) on all time frames again that signifies these price dips to prevail further in long term.
Trade recommendation: We recommend shorting near month for target at 1.4615 with a stop loss at 1.4805, thereby observed handsome risk reward ratio. But on every rise in prices risky speculators may even eye upon one touch binary delta puts options for target of 25-30 pips.