Rejected twice above 1.40, pair has been trading lower. Bank Holiday in Japan and the USA (Columbus Day), so expect sideways trading with a downside bias. As long as 3950 holds, look for small longs, below here further falls should be seen. Short term speaking, we see the pair bullish as long as above 1.38. Loss of this support will send the pair to 3700, 3640. However, 3600 should prevent further losses.
LONG @ 3955, SL 3940, TP1 3980, TP2 3995.
SHORT @ 3940, SL 3960, TP1 3920, TP2 3900.
LONG @ 3955, SL 3940, TP1 3980, TP2 3995.
SHORT @ 3940, SL 3960, TP1 3920, TP2 3900.
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