Price came down to test and bounce off the 126.1 and is currently retracing to our critical "acceleration zone".
our confluences for this acceleration zone:
61.8 fib level, major resistance,descending and 200EMA so we are anticipating a pullback and continuation into the downtrend,
We are targeting the 126.5 level as our 1st target and if we see a break of this level we will be targeting the 120.00 area which is a psychological level.
We shall look for long positions if we see a clear break of our @ 132.00 and outer in which we will be targeting the 137.00 level. However our favorable overall bias at this current moment of time is short.