Enter short on breakout

١٠ ديسمبر ٢٠١٥

Momentum of the rebound from 1.4565 was relatively weak and the structure is somewhat corrective. Hence, we'd treat price actions from 1.4565 as developing into a consolidation/correction pattern only. Fall from 1.7190 is viewed as resuming the longer term down trend from 2.1161 and would target 1.3503 and below later.