-SHORT TERM-If we take a look at the hourly chart, we're looking for a crossover per ADX/DMI as well as MACD levels shooting downward. We're seeing a lot of action the past few days with the pair - it seems like now is a good time to book a nice profit by going short. Look to place your limit with a range anywhere from 107.84 - 107.52.
-LONG TERM-Taking a look at the daily chart, we see a clear downward trend channel. It may be too soon to short the pair - it seems as though MACD,ADX/DMI,and Stoch are hinting that the pair still has some space to move upward before trending back down. If you have enough margin to sustain a 2-300 pip movement, then you can look to short the pair now, otherwise, I would stand fast and wait till it tests the channel resistance before placing the trade.
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