We have a potential Head and Shoulders
pattern forming on this pair, with the right shoulder forming and ending at around the monthly support of 131.000
level. This would coincide with a large demand area for the pair to then turn bullish
and begin climbing to the upside. If it breaks the daily pivot
level of 132.665
and closes under it I will look at shorting this down to the 131.000
psychological level. Then look at potentially a long if the pattern completes.