The pair has tried to break above key resistance 1.79 for 3 consecutive weeks buy failed to do so. It has formed a double Pinbar + Inside Bar formation. The EMA has also squeeze together signifying strong consolidation that is followed by a strong explosive move. The pair would continue downward to 1.76 to test the neckline of the H&S before continues its descent. If the neckline held, the pair would bounce back towards 1.79 for another retest.
Bias:
Long-term : Short
Short-term: Short
Bias:
Long-term : Short
Short-term: Short
