This pair has formed a head and shoulders pattern on the 4 hr time frame.
Chart below:
This is often a good sign of a reversal.
Price has broken down through the averages and I am looking for a short entry on the pull back.
Levels and Chart below:
1st Entry: 78.70
2nd Entry: 78.80
Averaged Entry: 78.75
Stop Loss: 79.10
Target: 77.00 (5%)
I will update again should the trade be triggered.
Regards
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