Breach of the rising trend line on Tuesday coupled with a drop in the RSI below 50.00 suggests potential for a sell-of towards another key trend line support seen around 2320.
Even then the RSI would be at a safe distance from the oversold territory, thus, the support at 2320 could be breached.
Nice trade setup, thank you for sharing your view on this pair. I have same idea as well.
itradeFx
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You seem to be missing a technical support level right here and now . If this area fails I see your target as the next stop . I am long here at 41 stop under 35 target 1 52 looking to follow the dec 2016 trend
itradeFx
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@itradeFx, 1/2 taken at 51 T1, stop to even. I will look for 44 retest and add back on with a confirmation