This pair has been in a mid term down trend and has made a new low.
Chart below:
Price has retraced to the 38.2% Fibonacci Level which overlaps with the Weekly Central Pivot Point. Price has formed a double top here and broken back down though the averages.
Chart Below:
I am looking to take a short position at the following levels as and when price pulls back.
Chart and Entry levels below:
1st Entry: 0.9665
2nd Entry: 0.9675
Average entry: 0.9670
Stop Loss: 0.9695
Target: 0.9545 (5%)
I will update again when the trade is triggered.
Regards
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