Weekly: The pair is clearly in a downtrend as the price has respected the establish trend line. The pair has printed a Inside Pin Bar pattern, in which a Pin Bar is contained within the previous mother bar on the key level. This indicates the downtrend would resume and target the downside at 145.5 & 144.5. Although the pair has previously printed a strong reversal Pin Bar, it failed to break above the key level at 147.5 and it subsequently formed the Inside Pin bar pattern which invalidated its reversal potential.
Bias
Long-term: Short
Short-term: Short
Bias
Long-term: Short
Short-term: Short
