First, it broke out of the upper channel fiercely, taking us out of shorts. We stay on the sideline to watch, it falls to the near 50% FIB level (see yellow dotted line) and we take a nibble at 1.17500 to buy.
NOTE - it has closed above 21 EMA
with a strong bullish engulfing
candle, no reason for us to think it will go south in the short term.
All the best in your trading , guys!