I entered a short with entry of 0.89886. Currently around 60-70 pips in profit. looking at the chart it could fall back into the box range shown on the chart from Sept to April. Theres a potential target of 0.87300.
In this paralell trend channel, the price broke below the lower trend line, leaving the weekly candle looking like an inverted hammer.
I see this as an indication the market will continue away from the old lower trend line and continue bearish.
I see this as an indication the market will continue away from the old lower trend line and continue bearish.