On weekly chart of the pair, prices confluence at 2 important levels: 1.67 and 1.7286
Ideally the pair is about to finish its wave C at 168% Ext of wave A, which also lies at 78.6% RET of XA, the ideal short entry of bearish gartley pattern.
Thus the plan can be set as : long in short term with target at 1.7286, then consider to short judging by price action then.
Please be noticed that the ECB minutes this week and Draghi's speech may lead to the failure of the plan, or complete the plan very quickly. We shall focus on risk management this week .
Ideally the pair is about to finish its wave C at 168% Ext of wave A, which also lies at 78.6% RET of XA, the ideal short entry of bearish gartley pattern.
Thus the plan can be set as : long in short term with target at 1.7286, then consider to short judging by price action then.
Please be noticed that the ECB minutes this week and Draghi's speech may lead to the failure of the plan, or complete the plan very quickly. We shall focus on risk management this week .
