22 Year Downtrend

$147.67: August 3,1998 is where prices for this currency pair is descending from. So it’s safe to say any short positions on a high timeframe will be definitely following the trend.

This pair has been downtrending all of someone’s life literally. With new and young traders joining the market every day, the pair continues to drop in prices.

I went short with a small lot size last Friday. Although today is bullish for the pair, I’m sure by the end of the week it will be back under control of the bears.