Price is approching historical pivot point - blue line. Importance of it is shown by arrows.
Also it is currently in a channel, which top is shown by red line.
Moving avareges are pointing down, which shows strong down trend. 100 MA is also in a place around 1,082 and it will be tested. Last time it was tested was 700 pips drop without a stop.
It is also a fibo 50.
It will be a heavy fight between bulls and bears, and i expect a daily candle to test fibo 50 and 100 MA - than heavy rejection.
Of course it could break, but you wont get better shorting posibility for at least 3 months.
Also it is currently in a channel, which top is shown by red line.
Moving avareges are pointing down, which shows strong down trend. 100 MA is also in a place around 1,082 and it will be tested. Last time it was tested was 700 pips drop without a stop.
It is also a fibo 50.
It will be a heavy fight between bulls and bears, and i expect a daily candle to test fibo 50 and 100 MA - than heavy rejection.
Of course it could break, but you wont get better shorting posibility for at least 3 months.