Technical Analysis and Chart Setup:
The setup above still points towards a retracement or pullback before moving towards new highs. Friday price action witnessed a marginal new high above 1.5256. It is still expected to resume a down swing towards at least 1.5050 level. We recommend remaining short against 1.5315 for now, target 1.5050 at least, Fibonacci support at 0.382 and past resistance turned to support confluence also passes through the same level.
Trading Recommendations:
1. Aggressive strategy: remain short, stop at 1.5315, target at 1.5050
2. Conservative approach: stay flat now for a buy entry later.
Good Luck!
