EA Short Potential
Price is in a slighlty bearish channel, this is indicated by price being firmly under the 200EMA on the daily and making lower highs. Price has been highly responsive to the 200EMA on the daily, as it has acted as an area of resistance for the price level. On the 4 hourly chart price has shorted by at least 100pips on the last two touches of the 200EMA. Overall, the 200EMA alongside the resistance level starting at the price level 1.63101 has served as strong resistance and if price reaches this level again, it will signify a strong selling opportunity with a high R:R.
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