DislikedExactly, the trend on the daily is up, so why is everybody who is trading on a technical bases suddenly changing direction, saying the trend is going down.Ignored
The trend is up but still does not negate a correction to the downside. Possibility to correct 300 pips depending on the so called risk aversion and based upon the daily chart upside channel. Rising wedges generally have a big drop. The 150 area is in that no mans land, right in the missseld of the channel. I'm looking to short at 1.5121 since it has laready broke the minor bottom trend line which suggested the downside movement, fibs have 50% retrace at 1.5130.