Confluence listed on the Chart, I believe this one more or less speaks for itself.
High Technical bias to go Short.
Strong downtrend began beginning of Dec '14, we have now reached the 0.382 retracement of that Bear run, which coincides nicely with the 97.50 Support/Resistance level. Historically this has proven to be quite strong with reactions creating pullbacks towards the 93.00 price level, this would be a 3rd profit target, keeping on top of the tehnicals provided, should the trade kick-off.
For more technical market analysis please feel free to visit our blog at forexvader.com
Happy Trading!
High Technical bias to go Short.
Strong downtrend began beginning of Dec '14, we have now reached the 0.382 retracement of that Bear run, which coincides nicely with the 97.50 Support/Resistance level. Historically this has proven to be quite strong with reactions creating pullbacks towards the 93.00 price level, this would be a 3rd profit target, keeping on top of the tehnicals provided, should the trade kick-off.
For more technical market analysis please feel free to visit our blog at forexvader.com
Happy Trading!