Commentary: The drop below .8682 destroyed the bullish bias. The drop from .9018 is either an A-B-C decline that is nearing completion or in the middle of a 1-2-3-4-5 decline that is just near its midpoint. Either way, resistance should be strong near the 38.2% of .8851-.8512 at .8641. Look for a top and reversal near here to be followed by a drop below .8512.
Strategy: Get bearish near .8640, against .8710, target below .8512
Al Bawaba
