Price rejected levels above 1.3800 and put lower high. It broke some important levels of support where buyers should made adjustments. Action confirmed with fundamental news.
Sellers should not give up 1.3680-1.3700 if they want to have control.
Target at 1.3400 gives us nice Risk/Reward ratio.
Update:
I made some adjustments when it failed to hold below previous low of the day, GDP from US and Consumer Confidence changed picture, but it stil trades below 38,2% retracement level - the idea is still valid, looking for clues to re-short
Update 23.12: looks like price rejected above 1.37 (where it should), entered with my feeler today
Update 26.12: rejection above 1.37 and below 1.3660. Wedging - means battle btwn buyers and sellers. I am short near 1.37
Sellers should not give up 1.3680-1.3700 if they want to have control.
Target at 1.3400 gives us nice Risk/Reward ratio.
Update:
I made some adjustments when it failed to hold below previous low of the day, GDP from US and Consumer Confidence changed picture, but it stil trades below 38,2% retracement level - the idea is still valid, looking for clues to re-short
Update 23.12: looks like price rejected above 1.37 (where it should), entered with my feeler today
Update 26.12: rejection above 1.37 and below 1.3660. Wedging - means battle btwn buyers and sellers. I am short near 1.37