Last week we seen indecision around our resistance area in the form of bearish pin/tailed bars. We are currently bearish under the highs that have formed. This pair was sold on the basis of 1. Reaching the top of a channel that formed at the beginning of 2015 (Daily) 2. Bearish Price Action 3. The break of a Rising Wedge (4h) We could potentially see this pair reach 0.7500 Sold from 0.7695
Here is an update of our current position.
Yesterday we seen a Bearish close which confirmed that there are still sellers within the market.
Our bias is still Bearish, if your currently trying to short wait for price action sell signals on any intra-day strength.