The sell-off did not go much beyond 126.50 and in fact stochastic RSI is basing and being positive.
Further, we have corrected daily chart and weekly chart still overbought, but think it will drift higher over time.
The strategy is suggested to:
1. buy 126.70-126.90 area for a move to 129.17. Stop-loss placed @ 126.27 for now
or
2. SELL @ 129.17 or higher and add @ 130.50 again and take profit @ 125.78 for now.
Further, we have corrected daily chart and weekly chart still overbought, but think it will drift higher over time.
The strategy is suggested to:
1. buy 126.70-126.90 area for a move to 129.17. Stop-loss placed @ 126.27 for now
or
2. SELL @ 129.17 or higher and add @ 130.50 again and take profit @ 125.78 for now.