In the mean while we are looking short to possible targets of 1.1200. However, analysing the chart I believe this is a key level in the market. If price does break below the TL then we would have further downside targets. However, as this is an ascending channel we can look for further upside targets of 1.14300-1.14500 which would be a completion of the 161.8 “D” Extension. So in the meanwhile our bearish trade setup is valid. Once price reaches the lower trend line (Our Target) we would then re analyse to distinguish if we are going long or short based on PA.
