Last week made some major bearish movement, dropping over 550 pips from high to low - and we were selling nearly the whole way down :). The bearish movement broke many support levels and I will look to capitalize on the bearish momentum shift by selling (fading) into rallies and pullbacks.
As always check the forex calendar to avoid any event risks.
Trading Idea: My primary trade will be a short with confirmation in the 1.2850-1.2870 resistance zone, with short targets (from 1.2850) at 1.2825, 1.2800, 1.2770, and 1.2740 for 110 pips profit.
A more conservative trade (and if the primary resistance is broken without confirmation) will be a short in the 1.2900-1.2925 resistance zone with targets (from 1.2920) at 1.2895, 1.2865, 1.2835 and 1.2815 for 105 pips profit.