Price action has reversed from my weekly resistance in addition to aligning perfectly with my reversal fib zone creating a new lower high. Before entering short on this pair I wanted to wait for a clear reversal and a break and close of the 8ema on the 4H timeframe which has now been achieved. Another confluence that has also occurred is the break and close below the ascending I have drawn in giving me the final confirmation I need to enter this short.
Target 1 (80pips) set at 0.71879 daily resistance.
Target 2 (165pips) is set at 0.7100 monthly resistance which aligns perfectly with my -0.27 fib.
Stops placed @ 0.73100
USD Fomc news at 4pm, if Bostics speech is positive for the American economy this should kickstart the run needed for this pair.