We have seen a nice decline to our first downside target at 1.3867. However, as long as resistance at 1.4051 is able to protect the upside, we will be looking for a move closer to our second downside target at 1.3687 before a firm bottom is expected to be in place.
A direct break above 1.4051 is needed to indicate that the bottom is already in place for a rally back to important resistance at 1.4237.
We are short EUR from 1.4145 and will move our stop reverse lower to 1.4055 and we will place take profit reverse at 1.3700
Uitgevoerd door, Analytische expert
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