Watch this carefully the reaction at the upper zone is telling. $ENSO pushed back into the 0.68–0.69 resistance area but failed to sustain above it, and the strong bearish candle confirms sellers stepping in aggressively. This kind of rejection after a fast recovery usually signals a short-term exhaustion move rather than continuation. Buyers couldn’t hold the highs, and momentum is now shifting back to the downside.

As long as $ENSO stays below the rejection zone, the short bias remains valid and a pullback toward lower demand is likely.

Trade Setup (Short):

Entry Range: 0.678 – 0.688

Target 1: 0.665

Target 2: 0.652

Target 3: 0.640

Stop Loss (SL): 0.705