This pair has been in consolidation within a Wyckoff Redistribution. The Upthrust After Distribution (UTAD) has occurred and the markdown of price may be in progress.
This idea is for a short as follows.
1. Enter - .8560
2. Stop - outside consolidation .8600
3. Target - the horizontal resistance 1 ( .8500) near term and longer term the next area of resistance at .8340
4. RR = Even to 4+
This idea is for a short as follows.
1. Enter - .8560
2. Stop - outside consolidation .8600
3. Target - the horizontal resistance 1 ( .8500) near term and longer term the next area of resistance at .8340
4. RR = Even to 4+