The pair is retracing after the break of a level at ~108.38.
Plan:
- Wait for the price to finish its retracement and wait for a confirmation signal.
- After a confirmation, go short with stop at the top of the 108.38 level or 50EMA.
- Put TP on the current swing low or trail until a bullish momentum occurs.
Things to look at:
- The price respected the 50EMA as a dynamic resistance.
- Bearish momentum on the daily.
Plan:
- Wait for the price to finish its retracement and wait for a confirmation signal.
- After a confirmation, go short with stop at the top of the 108.38 level or 50EMA.
- Put TP on the current swing low or trail until a bullish momentum occurs.
Things to look at:
- The price respected the 50EMA as a dynamic resistance.
- Bearish momentum on the daily.