Instead of continuing to the lowerside, Euro rallied to the lowerside but has now pulled back to the upperside. As it is now, we are still sellers especially while the price remains within the falling channel formation. As it is right now, we recommend looking for sell position expecting the price to rally much lower towards the lower trendline. A rebound from the upper trendline will provide us with the correct opportunity to consider a possible long term sell position. A break above the upper trendline will invalidated the anticipated bearish price rally and could push the price much higher.
We’re sellers towards the lower trendline.