Technical Outlook and Chart Setup:
As depicted above, on Monday there was an engulfing bearish candle and yesterday there was a pullback and test. We had recommended going short yesterday with stop above Monday’s highs for an expected pullback recovery towards 1.5100 level in the sessions to come. It is still good to stay short but with a stop loss as recommended. Fibonacci support starts from 1.5100 and extends till 1.5000 region. As shown above, the immediate rising trend line support meets 1.5000 region.
Trading Recommendations:
Remain short from yesterday’s recommendations.
Good Luck!
