Trade Idea
The rally has posted an exhaustion count on the daily chart.
Price action has formed an expanding wedge formation.
Our medium term bias is bearish below 0.8919 towards 0.8826.
There is scope for mild buying at the open but gains should be limited.
Preferred trade is to sell into rallies.
Intraday signals are far from strong.
We look to Sell at 0.9000
Stop: 0.9025
Target 1: 0.8830
Target 2: 0.8800
The rally has posted an exhaustion count on the daily chart.
Price action has formed an expanding wedge formation.
Our medium term bias is bearish below 0.8919 towards 0.8826.
There is scope for mild buying at the open but gains should be limited.
Preferred trade is to sell into rallies.
Intraday signals are far from strong.
We look to Sell at 0.9000
Stop: 0.9025
Target 1: 0.8830
Target 2: 0.8800
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