Hello Traders ,
Area 0.9800 - 0.9820 acted a strong resistance level preventing higher movement of the currency pair .
As we notice we recently we had breakout of the short term bullish channel with potential movement to the downside .
On this chart we notice the strong rejection of 0.9800 level which followed by formation of lower lows .
Also we had double top pattern indicating potential reversal even on the short term , followed by strong breakout of the bullish channel.
Based on the previous analysis :
As long as the level 0.9800 and the short term downtrend are still holding the price below, we have a SHORT signal with primary target at 0.9750 then 0.9720
SL should be placed above 0.9850
