The 38.2% fib. retracement of the last big move down has proved to provide good resistance so we might very well be headed down from here-on.
If we head up however there are 2 area's that I am willing to take a chance to short from, the second might be the setup with higher probability since it occurs at the next big fib. level i.e. 50% retracement of the last big move down.
Tight SL in case it fails, next short opportunity at the 61.8 fib.
Looking at shorter timeframes next for short-term setups and hints as to where this pair is headed, up or down...
If we head up however there are 2 area's that I am willing to take a chance to short from, the second might be the setup with higher probability since it occurs at the next big fib. level i.e. 50% retracement of the last big move down.
Tight SL in case it fails, next short opportunity at the 61.8 fib.
Looking at shorter timeframes next for short-term setups and hints as to where this pair is headed, up or down...
