YOYOYO Traders!! This pair is in an important zone right now. It currently is on the 50% line, which is a strong line usually, but we have to observe price to see if it wants to go to 618% or keep going from there as well. Personally, I will look at what happens on the 50% line, this being a retracement, we could get a EXTREMELY GOOD Risk to Reward ratio from this pair if we get a bearish Price Action signal.Keep your eyes open, opportunity might come knocking!! --->
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We got a small rejection from the 50% line, but I would exercise caution here still. On the one hour chart it looks good but if the short side starts rolling, it might be just a short ride.
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PaulJonFX
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What are your thoughts so far with PA on this Monday afternoon?