Weekly: The pair is in an established downtrend and it is respecting the downward channel. A bearish engulfing candle has formed at key region with several significant confluence point. This indicates that the correction rally has likely reach a limit and the bears has wrestled back in control. However a small hammer formation can be seen rejected off 108 region, which is the fib 0.23. This signify that there might be more upward movement in the short term, possibly retesting the 111 region.
Bias
Long-term = Short
Short-term = Long
Bias
Long-term = Short
Short-term = Long
