Agreed. There does seem to be some signs of life in the chart, it's been a face only a mother could love for a while now, lol, and I did sell some when it broke through 1.90 as I was hoping that would be the floor, but I reloaded in the mid 1.70's as it became very evident that 1.70 was going to be stronger support. It of course is still possible that it could test 1.70 again and form a double-bottom, but obviously that's not going to break my heart as the subsequent bounce will be even harder! The MFI has notably taken off in the last three trading days so I feel fairly confident that a reversal is imminent, the 200 and 50 dema's are of course hovering above and in declining fashion, so caution is advised and the road ahead may be a bit bumpy for a while as it tests the ma's for a ceiling for a while, but this is not a bad deal for traders IMO, hold a core position and play the swings for a bit.
All this is of course JMHO, do your own DD always, and be absolutely religious with your protective sell-stops.
Cheers! Lego
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