Near Term Trend: Negative
Fridays Close: 0.73393 (- 72 pips)
UPDATE: In our prior report seven days ago, we alerted our readers, As of Fridays Price action (Nov 11), the support line of the wedge has been slightly violated. Aggressive traders could go short at this juncture, but I would risk very little- less than 75 pips.
If you took our advice, you went short near the 0.74400 region on Monday, and based on the sharp sell- off you should be sitting on a profit of $1,000.
Lower the buy stop to 0.74120.