Price broke below ascending trending line (blue dash line) and is now retesting that same broke trend line. Right now as I am writing this analysis we are seeing a liquidity grab and sellers are being taken out. We need to wait for a confirmation candlestick pattern...possibly a evening star pattern on the 1hr chart for an entry. First target will be the light green zone, where price has reacted in that area multiple times in the past and second target is the dark green demand zone near 1.2400, where we saw the strong push up previously. Currently there is no news that could affect this analysis one way or the other, however, we have USD news tomorrow... CPI and Core CPI. This is my opinion, like if you agree. Trade well not often and protect your capital. You are one trade away...