Moving into the new week, I will be looking to take this pair short for obvious reasons, break and retest of support area now turning into possible resistance.
The overall trend on this market is down and on the 4H TF u can see strong bearish pressure just totally ramming through said support now retesting, so I do not see any reason not taking this trade
UNLESS.....:(
I wouldn't be surprised if the prediction came out to be true. breaking of this, what could be classified as major support, to then turning into that major resistance.
With a retest, I am positively going on this roller coaster ride to the trenches with UJ.
With the US dollar under pressure at the moment, it could more likely happen
but who knows...its just my...
I mean, it doesn't get any simpler than this...in my opinion :)
if we look closely, we could spot a Head & Shoulders pattern, or should I say "i"
I'll be looking to short this pair straight down to 107.800 or even 107.00 if I got the strength.
Let me know if you agree, that would be awesome!
