- Holds 1.2623 ….CHECK
- Breaks below intraday trend line at 1.2580 – CHECK
- Falls below close from yesterday at 1.2579 – CHECK
- Correction holds underside of broken trend line – CHECK
- Price below 100 and 200 bar MA on 5 minute chart – -CHECK
- Price below 38.2% of rally from yesterday’s low at 1.2553 – NOT CHECK
The sellers are winning some battles today and looks for the next check on the list to get the ball rolling more to the downside. Shorts from above can feel comfortable (stops above 1.2583, some may use all the way up to 1.2623) Can more sellers come in and further overwhelm the buyers? Get below the 1.2553 level and show some downward momentum.