We came to test the key structure at level 0.62250 and rejected it multiple times, we are now seeing signs of a sell off from this region. The previous bearish engulfing
daily closure suggests to me that this pair is pointing more for a sell than a buy. I have marked the target levels I am interested in as well as the level that I would consider buys from if broken.
41.4% of commercial players are short according to our COT
Data source (This is my only concern)