Bias: USD strengthening from current levels
As seen on chart, the pair is at historic resistance/support levels..and based on Fib shown the price is at 100% level on the Fib retracement from which I expect the price to continue its downtrend. SL would be based on h4 close above the fin 100% levels for this short trade.
Would have been ideal if price on the fib had retraced earlier to the golden ratio...but I will accept the outcome and control the risk by tight SL.
Keep watching this section for further follow-up updates of this trade.
As seen on chart, the pair is at historic resistance/support levels..and based on Fib shown the price is at 100% level on the Fib retracement from which I expect the price to continue its downtrend. SL would be based on h4 close above the fin 100% levels for this short trade.
Would have been ideal if price on the fib had retraced earlier to the golden ratio...but I will accept the outcome and control the risk by tight SL.
Keep watching this section for further follow-up updates of this trade.