In the long tem - Monthly timeframe, the pair has hit a strong resistance level and is falling bearish. Our long tem target is 73.89. A total down nice of 930 pips.
In the Daily timeframe, we are waiting for the market to take out our support line at 79.51 before a major pullback.
For the 1 hour timeframe, the upward rally is expected to be limited by resistance at the current downtrend line. When this happens and the market turns bearish, we will look too SHORT this market to the Fibonacci D extension at 78.24
To your trading success, Fx-Kalapanzy
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