We saw this week the market moving in an area of consolidation( accumulation phrase), they were several opportunity to gain pips, with the bounces off the 107.431 mark, 107.666, 107.935. The market tested these points several times, looking the break out to be short pass the 107.431 mark, usually when the market settles on a point, there is usually an aggressive move in that direction. With the market in the accumulation phrase, trading opportunities are found on smaller time frames. With the current atmosphere, which changes at any minute, the market seems to be still in a downward trend, looking for potential opportunities to go short, but always looking for affirmation on movement before entering.