On a DTF, the pair has formed a double top pattern and the conversion line has just been breached.
Parabolic SAR has reversed and is pointing down.
The pair is waiting for the release of US Non-Farm Payrolls.
Recent data is pointing to the downside and long positions look to be more favorable at this time.
Target areas down are at 50% Fibo at 106.462, followed by 61.8% Fibo at 105.986 and further down we have support around 105.596.
Parabolic SAR has reversed and is pointing down.
The pair is waiting for the release of US Non-Farm Payrolls.
Recent data is pointing to the downside and long positions look to be more favorable at this time.
Target areas down are at 50% Fibo at 106.462, followed by 61.8% Fibo at 105.986 and further down we have support around 105.596.