The pair has already made more than 61.8% Fibonacci retracements from the highs of 1.6252 levels.
The current prices have again slid below 7DMA, breaking important supports with downward convergence by leading oscillators.
A bearish trend reversal signal is generated after the formation of Gravestone doji (1.5223) candle with long upper shadow on monthly plotting, in between this appearance it has not only rejected the resistance at 1.6252 but also broken major supports at 1.5457, and now on the verge of breaking 1.4793.
To substantiate this bearish stance, leading oscillators converging downwards to these price declines.
Volumes are considerably higher on every declining prices which is a confirmation to the strong bear trend.
On short term basis, if it manages to break below support at 1.4750, then we could foresee the targets upto 1.4593 levels (i.e. 88.6%).
Overall now the pair is inching southwards slowly, while monthly leading oscillators signalling downward convergence which mean long term bears are more into the business gaining momentum, so medium term speculators can go short in mid month futures for targets upto 1.4593 levels.


FxWirePro: USD/CNY neutral in the near-term, scope for downward resumption
FxWirePro: USD/CAD downtrend slows, but bearish sentiment remains
USDCHF Triple Bottom at 0.7920 Under Threat: Bearish Signals Dominate – Sell Rallies Targeting 0.7865
FxWirePro- Major European Indices
FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook
FxWirePro- Major Pair levels and bias summary
FxWirePro: GBP/USD dips lower on negative UK retail sales data
FxWirePro: EUR/AUD runs out of steam but maintains bullish outlook
EURJPY Surges Post-BOJ Hike: Bullish Momentum Builds – Buy Dips Targeting 185
FxWirePro:EUR/AUD eases but bullish outlook persists
FxWirePro- Major Crypto levels and bias summary
Aussie-Yen Holds Firm Post-BOJ Rate Boost: Intraday Bullish Momentum Intact
FxWirePro: EUR/NZD uptrend loses steam but outlook still bullish
FxWirePro- Major Pair levels and bias summary
FxWirePro: USD/ZAR edges higher but bearish outlook persists
FxWirePro- Woodies Pivot(Major) 



