The previously anticipated bullish scenario appears to have lost momentum. The attempt to rally was met with strong resistance from sellers, who are now confidently suppressing the upward push. This likely marks the completion of the ending diagonal structure.
If so, a corrective decline may now unfold, potentially taking the form of a simple zigzag. At this point, it’s reasonable to begin reversing trading positions. Longs should be closed, and new short positions can be considered at current market levels, with a protective stop-loss placed just above the recent local high.
Investment idea: SELL 1.1440, SL 1.1475, TP 1.1300.
Origin: FreshForex
