The pair is heading towards the 1.12xxx area where it was rejected during its last visit.
Using overlapping Fib retracement, we think momentum will slow once it reaches that area and consolidate, giving short term traders opportunities to swing bearish positions in the pressumption that the pair will get rejected again. Take short term sell positions till the pair drops back down to the 1.11xxx area for pragmatic traders, or head further towards the 1.10xxx or 1.09xxx area for the more adventurous ones.
Leave the big moves to the big money movers, we just out here to enjoy the ride.
Skrrrt skrrrt esketit.
Using overlapping Fib retracement, we think momentum will slow once it reaches that area and consolidate, giving short term traders opportunities to swing bearish positions in the pressumption that the pair will get rejected again. Take short term sell positions till the pair drops back down to the 1.11xxx area for pragmatic traders, or head further towards the 1.10xxx or 1.09xxx area for the more adventurous ones.
Leave the big moves to the big money movers, we just out here to enjoy the ride.
Skrrrt skrrrt esketit.