Bearish: We are currently @ 134.47 after putting in a head and shoulders reversal pattern. IF we complete the neckline breakout, we are looking for a continuation to the ATR target@ 133.31 area and then the 0.382 Fibo @ 1131.82 area. Watch the USDX for any change in direction. The ATR for the pair currently is 123 pips per day and its 180 day average is 117 pips per day. USDX is currently also topping out at the time of this post.
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