I have been waiting for this chart to offer up a short opportunity on the pair.
The medium term trend is down as shown in the chart below.
Chart Below
Price has formed a double top at 1.3285 and a head and shoulders pattern is also in play.
On the back of news this morning EU has moved down and begun to retrace allowing an entry with a decent risk reward.
Entry levels and Chart below
Entry: 1.3205
Stop: 1.3235
Target: 1.3055
Once the trade has been triggered I will update you and again when the stop loss has been moved.
Regards
Scott
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