The EURO is getting hit from pillar to post. Price movement favors the downside.
Look back and you will see what may occur again.
1. Consolidation
- Past = 72 bars
- Present = 64 bars
2. Trendline break
- Past = 10 bars and 500 pips
- Present = 4 bars and 480 pips.
3. Support break
- Past - at 153.50
- Present = 143.20
The consolidation and trendline break are roughly similar in duration and magnitude.
Choices I see are
1 Short now - on a break of 1.4800
2. Short later - at break of 1.4300