By: Doug Rosen
This pair continues to look bearish. I really do not see too much in the way before 104.60 with the exception of the Daily Central Pivot Point at 105.07 which if broken and revisited, will give you a very comfortable short trade with a stop loss just a few pips above the Central Pivot Point.
The next area of contention would be the Monthly S2 which is close to the Daily M2. So, with this pair I would continue to keep looking for short opportunities off of Fib Retracements preferably overlapped with ema's.
If price breaks 104.60 then the next stop will most likely be around 104.40 and if that breaks then we probably falling down to 104.10.
