The longer term down trend looks to wrested back control which should lead to a test of important lows at 87.10 in coming weeks/months. The present downleg looks to be in its 5th wave off the 101.50 high and may well soon run out of steam so taking fresh shorts at current levels does not promise a good risk/reward ratio. There is a possible bearish channel formation with parameters roughly at 89/97 and playing this range with a bearish bias looks like a sensible strategy.
