This pair is in a down trend. Price has pulled back to the 38.2% Fibonacci level at 1.2745.
Chart below:
I am looking for a short entry.
Price is currently supported by a trend line at 1.2565.
Should I see a break of this level then i will look to enter short on a pull back with the stop loss above.
US Independence Day (4th July) tomorrow so it may be slow, however if I can get a break and move the stop down to remove the risk I think its worth a shot. NFP is on Friday and we may get a nice move on the back of the Jobs report.
Chart below:
I will update again should the break take place, with the entry levels and stop placement.
Have a good day.
Regards
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