A change of trend on smaller time frames suggest a turn/reversal for today. The price level is so we should take a look at the charts.

A nice pin bar/ shooting star below 50% fib retrace of last dip and below weekly central pivot suggest a reversal.

And smaller time frames 5m/15m shows a H&S formation and a change of trend supported with Fibonacci.

I'm already short and the targets are:

  • 1.3148 already hit
  • 1.3128 daily central pivot
  • 1.3078 previous low
  • 1.3055 50% retrace of last 4h/daily rise
  • 1.3033 121,4% extension on 4h chart and monthly support 1

For today I think that's enough. How to enter if you miss the right entry. Take the last swing down on smaller TF and put a fibo study on it. Wait for retrace and re-enter.

-- Pipomatic

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