This pair is in a down trend on a daily time frame.
Price has pulled back to the 61.8% Fibonacci level where is has stalled and put in a lower high or lower double top around 83.50 to 83.00 area.
Chart below:
Price is making lower highs and lower lows.
Price has now broken back down through the averages and pivot points and I am looking to enter short on this pull back.
Chart below:
My entry levels and chart are below.
1st Entry 79.95
2nd Entry: 80.15
Average entry level: 80.05
Stop Loss: 80.40
Target: 78.30 (5%)
Chart:
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