The price is holding below the 115.02 resistance and further downside is expected as part of a downside correction for the 100.38-115.35 wave.
The pair is currently holding above both its MAs.
Sell at the curent price level with a stop loss above Fibo 100.0 of 100.38-115.35 and a target at 111.81 and a second target at 107.08 near the Fibo 38.2 level.
This provides a risk/reward of 224/502 for the first target and 224/720 for the second.
The price is contained in the 113.56-115.93 range and is closing on the 115.93 resistance where a potential double top can be formed.
The pair curently holds above both its MAs and is also pending a downside correction on the daily chart.
Sell at 115.49 after a rejection at the range resistance, place a stop loss at 116.32 above the potential double top and the range and target 113.83 with a second target available at 111.6.This provides a risk/reward of 83/163 for the first target and 83/440 for the second target.
Goldenschild Asset Management