Bearish momentum may be resuming.
The pair has so far failed to break above an important zone marked by 200 period MVA,38.2% Fib level and a sticky price level 1.0815(see the link below).As long as price remains below this level,short should be preferred.The only news event to affect the pair is the US employment report due on Friday morning.Till then the only driving force behind the pair should be market sentiment.The trade update will be posted when the trade closes.
Word of caution:Its better not to go all in at once.Best will be to add half of the allowed size now and to add the rest if price breaks below 1.0750.
Word of caution:Its better not to go all in at once.Best will be to add half of the allowed size now and to add the rest if price breaks below 1.0750.
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