Seeing a little bounce
Here was the picture from the earlier post (you can read the post here).
This is the chart now...
The shorts were rewarded with additional selling momentum on the break of the key 100 and 200 hour MAs and reached the double bottom target at the 1.3426 level (the low reached 1.3424).
What next? Well, there is reason for the profit taking. SO there should be slowing of the selling. However, the floor is also a stop level too. That is, on a break, the buyers should turn to sellers and we should see a further probe lower.
However. for the time being, look for the dip buyers to lean against the double....I mean triple bottom.