Technical Outlook and Chart Setups:
As depicted on the 4H chart, the structure remains unchanged from what was discussed yesterday. Prices have stalled at a 0.382 fibonacci support around 1.4180 for the moment. It is quite possible that the retracement continues towards the 0.618 fibonacci support at 1.4080 level as highlighted here. Intermediary resistance is at 1.4270/80, support should be just below the 1.41 mark. It is still recommended to remain short till 1.4080 levels before flipping trades.
Trade Recommendations:
Remain short for now, stop is at 1.43, target is at 1.4080. Then go long.
Good Luck!
