Price seem to have formed a double top with rejections at a key area. Hence, I'm looking at shorting this pair in the coming week. As ECB conference nears, I'm predicting a strong bounce back from USD, a fall on Euro and weaker commodity currencies (AUD, NZD and CAD). Target for this pair is at 87.40
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Triple top formed and price rejected resistance area. Dropped a nice 100 pips
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More potential downside on this pair. Daily timeframe view:
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Price has been trading choppily on this pair but nonetheless target has been hit.