Price is showing classic exhaustion after failing to sustain momentum above 0.8600. The rejection at 0.8845 was decisive and the MAs are now aligning for a continued downside move. Volume is drying up on this bounce, signaling a trap for late longs.
Short setup:
Entry: 0.8490 – 0.8550
Risky entry: 0.8440 – 0.8460
TP: 0.8350 / 0.8260 / 0.8100
SL: Above 0.8750
The structure remains bearish. Manage risk accordingly.