When a market slides more than 10 big figures in little more than two weeks, it is damn near impossible to figure out how high the inevitable retracements will be.
The first logical sop to begin selling again is the 1.3835/40 area, the old low that defined the base of the range for several months
1.3897 is the 38.2% retracement of the drop from 1.4550 to 1.3495. Those are a long way away.
That’s what makes trading a difficult avocation…
