DAY TRADE - EXPIRES AT 9PM
Trade Idea
A bearish Head and Shoulders has formed.
A break of the neckline is required to confirm the formation.
The measured move target is 1.6300.
Negative overnight flows lead to an expectation of a weaker open this morning.
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 1.6700, resulting in improved risk/reward.
We look to Sell at 1.6700
Stop: 1.6750
Target 1: 1.6515
Target 2: 1.6450
Trade Idea
A bearish Head and Shoulders has formed.
A break of the neckline is required to confirm the formation.
The measured move target is 1.6300.
Negative overnight flows lead to an expectation of a weaker open this morning.
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 1.6700, resulting in improved risk/reward.
We look to Sell at 1.6700
Stop: 1.6750
Target 1: 1.6515
Target 2: 1.6450
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.