Overall trend in this market has obviously shifted to bearish with increasing momentum, looking at the steepness of the fall in price since mid July without any deep retracement.
The market broke and closed below the key support zone around 0.8400 last week. It has just formed a small pin bar yesterday. Anticipating this market to re-test the now key resistance zone 0.8400. If that happens and a nice price action sell signal formed at that level, then I'm prepared to short in line with the recent bearish trend.
The market broke and closed below the key support zone around 0.8400 last week. It has just formed a small pin bar yesterday. Anticipating this market to re-test the now key resistance zone 0.8400. If that happens and a nice price action sell signal formed at that level, then I'm prepared to short in line with the recent bearish trend.
