has ripped higher on a wave of Trump euphoria (somewhat against popular expectation) and the critical parity level has been taken out. In the immediate aftermath of the US Elections this pair fell to .9551 but since then has channeled higher and hit 1.0117 overnight.
Prices are now looking extremely overstretched and with RSI
weakening particularly on H4 where we have seen a drop below 70, this looks a good place to fade this move north.
We are in this trade from 1.0085 with a STOP above the highs at 1.0120 for a 35 pip risk trade.