- Bear Market. Retail traders are net long 2.8:1. This confirms further downside continuation risk outweighs upside risk at the moment. Negated if price closes on Daily Chart
above 1.1832 handle and 9/21 EMAs have crossed up. Bearish
bias also negated if retail trader positioning drastically falls or reverses.
Option 1: Wait for price to retrace to resistance zone
near 118.50 and then PA signal to short. Profit target near 116.00.
Option 2: Wait for price to retrace to close below 116.00 level then retrace to resistance zone
near 116.00. Then PA signal to short. Profit target near 114.50.