We looking to see a potential short break out of the equilibrium we have been in, 1.12650 is our imidiate support level. We looking for momentum indication through This support for a 140ish pip move to downside target around 1.1125. Weekly Is forming a very nice bearish picture along with some bullish exchange of momentum In the greenback. We have the possibility to see som consolidation in the 1.12650-1.13350 range to complete a right shoulder of the possible H&S forming.
Comment
Still valid for shorts, just need momentum confirmation and rejection.
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