if you notice from this chart you can clearly see the bullish price action over the past few days, but bearish action on the MACD. this contradiction as well as the the fib level depicted, the pullback of the most recent candle on this 15 chart allow us to enter here for a small short. additional short order with trailing stop loss set around the 111.55 region
Fib levels stayed consistent. price held at trend line derived from a 4 hr analysis. these levels combined with dxy losses and moving averages give me the impression that this downtrend will be sustained throughout the week. because of the slight pullback this price is prime for a short entry point with targets around 50-90 pips
Price action with trend lines, fib behavior, and recent price action give off the impression that a fall to 111.875 region is on the table for near term
