Apologies for my recent SELL idea on this pair. A descending triangle
pattern was in the making but needs a minimum of FIVE touches on support/resistance
to be confirmed as one
. Therefore, much to early to SELL. Those of you who saw my LONG idea from 5th MAY 4hour chart where I showed a channel that price was following can see that we are not being completely bamboozled by this pair. Anyway, onwards and downwards we hopefully go for this idea. Price is heading for a popular and relatively recent SELL zone around 8860. It has taken a longer time to go up and cover the same amount of pips as it did to come down. Let's see what happens.