The FOMC decision not to change US interest rates sent this pair on it's way to possibly fill a bat pattern!
I've included 2 possible patterns (possible with a B @ .786 of XA and 2 possibilities for the completion of D) and 1 possible . The blue arrow points to the preferred scenario, the red arrows are potential alternative scenario's based on the other possible advanced patterns.
3 trades and possible targets are on the chart which are based on the bat.
The high of earlier today was almost at the completion of a pattern so we could see PA retracing down now but I do think that the downside will be limited for this pair at the current time. If we get below the B point of the possible bat we may go lower and we might be on our way to C of one of the two possible patterns (very premature). The lower red and arrow represent that scenario.
If the bat short fails I will be looking to short again at the completion of either the patterns or the .