I was trying to figure out a target for continued downside, as I am short since yesterday at 1.3927.Providing the lows of the 20th are tested and give way, then my next target is 1.3570 - which would equal the 38.2 % retrace of the recent rally north on the daily, also it is WS2, and it's the 127% extension of the the move south - points 1 to 2 on my chart. There is also a minor weekly s&r zone in that area. See red line.Why the 127% extension? Because the move south, points 1 to 2, retraced 76.4%. The 127% extension is the 100% of that move, if that makes sense?Also I note there is a possible channel forming on the daily - blue diagonal lines. 1.3570 could conincide with hitting that line quite nicely.This is all speculation based purely on technicals - It's equally possible we're not going lower at all, and these last few days have just been a correction in the daily uptrend. We shall see.
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