has been in a bullish trend
for going on 4 years now. It was very overextended and based on the monthly chart, it has a lot of room to pull back. We finally got a pullback and then formed a bearish
head and shoulder pattern on the daily chart
. This confirms the higher time frames outlook and presents a great opportunity for a short trade possibly down to 1.33000 or even further down to 1.28000 area.