Short Update

3 Jan 2016

This pair in my opinion is in for a lengthy drop. If you look at the arrows on the chart, these are clear opportunities where you could have gotten into the market with no risk. What do all of these opportunities have in common? The 8 and 20 EMA are relative to the 34 EMA. Meaning if both the 8 and 20 EMA are above the 34 EMA, then it is a BULLISH market. If they are below the 34 EMA, it is a BEARISH market. Also notice what MacD is doing aligned with each arrow on the chart. Ironic isn't it? Anyways, taking in all of this information, I have measured out a possible ABCD move. Conveniently it would end right on a major support line. Shorts are favored.