Technical Outlook and Chart Setups:
The recommended stops above 102.50 levels triggered on Friday but prices reversed in late trading hours, providing fresh short entries. A lower top has been carved out now, at 102.70 region. According to trade cycle, the next major swing should be on the downside. Minimum expectations remain 97.00/98.00 levels on the downside. Intermediary support is near 100.00 level while resistance will be offered at 102.70, the Friday’s high. It is recommended to re-enter short positions around these levels; falling below 100.50 should accelerate downside levels.
Trade Recommendations:
Short now, stop above 103.00, and target 97.00
Good Luck!