There are many occasions when we try to analyze the market and not sure whether it would be up or down. Example AUDUSD this week, it has came down by 300 pips last week and the immediate question is will it continue or reverse back to the previous flow.
Currently, it is sitting on the 61.8% Fibo but there is no evidence that the pair is turning up. Thus, the plan is still to short this pair as of this morning unless the price starts to developed into a reversal pattern.
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