It seems like an awesome opportunity but the snail's pace as well as the retraction to the 61.8 fib is killing me. Here's my analysis a clean naked version and a spaghetti one.
On the naked version we can see the main causes to take a short.. The trendline which seems to be broken, but the fact that the primary candle is kind of a [fake-out] pin the trendline could have been slightly lowered but there are no clear references on which is the right point. Nonetheless the 100 EMA backs up for the overshoot falling precisely in the 1.35 area together with the 61.8% fibonacci retracement of the latest downward move on the daily timeframe. The green trendline depicting the recent sharp uptrend from the euro and then there is that yellow dotted line joining a couple of lows that culminates to back us up once more at 1.35 area. That's quite enough confluence to take a short on this pair.
In the spaghetti version I would call attention for the 78.6 expansion falling slightly below the 61.8 fib, the fib channel, and what I think is the most important is that all this info complementing that trix indi that is just turning bearish, this could well be the top. Now let's see...
On the naked version we can see the main causes to take a short.. The trendline which seems to be broken, but the fact that the primary candle is kind of a [fake-out] pin the trendline could have been slightly lowered but there are no clear references on which is the right point. Nonetheless the 100 EMA backs up for the overshoot falling precisely in the 1.35 area together with the 61.8% fibonacci retracement of the latest downward move on the daily timeframe. The green trendline depicting the recent sharp uptrend from the euro and then there is that yellow dotted line joining a couple of lows that culminates to back us up once more at 1.35 area. That's quite enough confluence to take a short on this pair.
In the spaghetti version I would call attention for the 78.6 expansion falling slightly below the 61.8 fib, the fib channel, and what I think is the most important is that all this info complementing that trix indi that is just turning bearish, this could well be the top. Now let's see...