My analysis is just a map of how markets have been playing out so far.
If u take the 50% of Q1 (2017 1st Quarter) u can see it's been acting as a heavy resistance.
This imo has given many people confidence to short this market. So i see a wipe of buy stops coming soon.
A retest of Q1 mid or even better a rally to the 6M OB at 115.85 should squeeze every short before we continue to the downside fib projection at 105.25
All my longer term levels are marked out and i will be looking to play these levels. Long or short, not my concern, as long as risk is good and moneys on the table i'll take what i see, just a matter of patience now.