Real data perspective, stochastics have a bearish down trend, hasn't broken this trend, giving me the idea to keep looking for short positions.
Until that trend line is broken or a Bull Convergence is formed I don't believe anyone who are going long. Monthly charts also support this idea.
Current prices is at a deep retrace zone which hasn't shown any signs of reversal, so there is no reversal any time soon.
If there is buy opportunities you'll be trading against a major trend and also will be risking your account in buying corrections on the way down.
We may be seeing 1.7200 in the near future.
Happy Hunting.
Until that trend line is broken or a Bull Convergence is formed I don't believe anyone who are going long. Monthly charts also support this idea.
Current prices is at a deep retrace zone which hasn't shown any signs of reversal, so there is no reversal any time soon.
If there is buy opportunities you'll be trading against a major trend and also will be risking your account in buying corrections on the way down.
We may be seeing 1.7200 in the near future.
Happy Hunting.