The chart shows my working count. It suggests that we have a corrective fall developed as a double corrective combination ended with a triangle, followed by a corrective recovery. Today€™s fall below 1.3516 confirmed this idea so I closed my Friday€™s long position below it and turned short. If my idea is correct, we should see an acceleration of the fall with potential target 1.3100. A key resistance is today€™s high 1.3581.

Trading strategy: 11:22 EST; 16:22 GMT

The long position from 1.3402 was closed at 1.3515 with profit 113 pips

Short position from 1.3515, stop loss - 1.3585, target - open

Trading strategy: 03:03 EST; 08:03 GMT

Long position from 1.3402, move the stop loss from 1.3310 to 1.3515 (stop and reverse), target - open

This analysis has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.