30-Minute Chart
(CLICK ON THE CHART TO ENLARGE IT)# Dailies favour a short-term bearish move to at least the 6EMA which is at 1.5666 and overlapps with the 38% fibo of bullish move 1.5339 to 1.5857.
# A first confirmation of a bearish move would be the break of this current trade range 1.5750 - 1.5850.
# A second confirmation would be the break of 1.5660 (38% fibo of bullish move 1.5339 to 1.5857).
# A very strong confirmation of a new bearish trend would be the break of 1.5350 (overlap 38% 1.4444 to 1.5901 and 123% 1.3358 to 1.4966. My points are:
## SELL break 1.5750 with STOP 1.5790 and LIMIT 1.5660.
