Yesterday cable finally closed below the 200sma (1.9952 / purple line), with a nice bearish engulfing candle, confirming shorts from 2.0006. Target is 1.9650.
Bears have to get the 1.9647 to change the daily swing trend.
Bad signal for the bulls, they managed to push and close above the 200sma, and couldn't hold it more than a few days...
Bulls have to regain 200sma and close back above it, and then get a new high above 2.0158 to confirm the current bullish swing trend...
Notice how 1.9903 is the 50% retracement of the 2.0158 / 1.9947 swing, this could serve as a guide to gauge direction.
Getting it right is NOT as important as not getting it wrong.
