STILL AIMING LOWER ?
Long term: During the last 10 months the pair keeps moving within a range of 115.00-108.00. As long as we stay in the range,we act accordingly.Major technical sign will be the upwards or downwards break of the above mentioned limits,aiming then 124.00 or 100.00.The pair reached the 105.00 level with profits of 700 pips and reacted. Possible target of this reaction is the 111.00 level.Target accomplished,now looking higher,possibly even up to 114.00.
Short term: As correctly described in our previous analysis:We can re enter short at the downwards break of 111.40 aiming then 110.80.Target accomplished with 60 pips of profit.We can now re open short positins at the downwards break of 109.60 aiming then 108.20.
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