Following the main move of the pair the last days, today is making another move downwards. I initiated a SHORT position at the level of 1.07330 anticipating further downward move. Strong psychological and technical resistance level is the 1.0750 which is a round number and also coincides with 61.8% Fibonacci retracement level, Upper Bollinger band in 10MIN chart, and 20 period MA in 1 hour chart. Stop loss is set above that level at 1.0755 and target is just before the 261.8% Fibonacci extension level at 1.0710.
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