Pair is now touching the upper multi year channel which started in late 2014. This will be it's sixth touch in 2 years. Every other occasion has lead to massive downside.
That said, I do feel as though this channel may break soon, perhaps rebounding off 78.46 and retesting the upper channel. That remains to be seen.
For now, I'm shorting, with a target of 77.00
Long term trend
That said, I do feel as though this channel may break soon, perhaps rebounding off 78.46 and retesting the upper channel. That remains to be seen.
For now, I'm shorting, with a target of 77.00
Long term trend
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