Technical *Look at the ABCDE structure. From A-B, B retraced 0.786% of A. Now look where we are now, at the same 0.786% retracement level. *Daily indicators going short. *E is a break through wave, maybe a long term investment?!
Fundamental: * After SOTU speech the dollar is said to have gained strength. And if the media reports it, the herd will start to short this pair. We trade the reaction of the news, not the news itself.