Technical Outlook and Chart Setups:
Finally, our shorts have materialized. We again present the 4H chart to study the waves more careful. As depicted above, we were at R1 yesterday, and the extension of the primary downswing could possibly bring the prices down towards the 100.00 mark. It should be noted that the short-term support line is travelling towards the same price region at the moment. A bounce there would resume rally again but a clear break would indicate further weakness ahead towards the 99.00 region and lower. Please note the lined up supports as well.
Trading Recommendations:
Remain short, move stop to break even, target at 100.10.
Good Luck!
