04-HOUR CHART
(CLICK ON THE CHART TO ENLARGE IT)
Huge bearish move today as well. My point on my last post Short at break 159.60 worked very well. It never got back there after breaking it and dropped 360 pips so far (today´s low 156.00). Now, here´s the $1 million question: will it keep heading south? Moving to weekly chart we see that prices are hitting the bottom of a major bullish channel (purple line) with the 62EMA at 156.30 and, the 04-hour chart shows that prices broken the fan line (purple) of bearish move 168.90 to 160.40 and are right now at 150.00% fibo which is 156.10.
So, hard to say but if prices break the 156.00 we are going to see an even larger bearish move
