Trade Idea
Duration: Intraday
Expires: 17/07/2025 06:00
Technical Overview
Watch for upcoming key data events:
Key Technical Levels
Resistance: 0.6570 / 0.6590 / 0.6600
Support: 0.6520 / 0.6500 / 0.6480
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
- Type: Sell Limit
- Entry: 0.6560
- Target: 0.6500
- Stop Loss: 0.6575
Duration: Intraday
Expires: 17/07/2025 06:00
Technical Overview
- Recent price action has been mixed and volatile, with signs that a top is forming.
- The preferred strategy is to sell into rallies, capturing potential exhaustion near resistance.
- Bespoke resistance at 0.6560 aligns perfectly with the entry, offering a high-probability area for reversal.
- A move lower to 0.6500 would confirm bearish momentum and complete the expected corrective move.
Watch for upcoming key data events:
- US PPI data (16/07 at 13:30 UTC), and
- Australian Employment data (17/07 at 02:30 UTC), both of which could increase volatility and provide catalysts.
Key Technical Levels
Resistance: 0.6570 / 0.6590 / 0.6600
Support: 0.6520 / 0.6500 / 0.6480
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.