Looking short on this pair, as you could see price is at its 8 year highs. We have 3 lower highs with oversold on the stochastic and bearish PA confirmation. Price has breached and retested the upward trend line demonstrating bearish momentum building up. Our downside targets bing 121.600, 118.750 then possibly 117.000. However, we also plan for the worst case scenario if price breaks above and closes above the trend line then we can see further bullish momentum up to 125.600.
