Technical Outlook and Chart Setups:
For more careful examination, we have presented a 4H view of the single currency pair here. Believe it or not, we still favour short positions with a minimum risk above the R1 level shown above. Prices might just begin the 3rd wave down towards the levels projected above. If this this scenario unfolds, we shall see the single currency trading around 100.00 region pretty soon. We recommend aggressive traders to go short around these levels. Kindly refrain from buying at these levels.
Trade Recommendations:
Go short, stop 104.10, target 100.00
Good Luck!
