Price printed a new low on Friday giving
us a new B swing low, we are still waiting for a retracement up to the 618/786
of this swing where we will be looking for a short entry. We remain in this
downtrend until 3433 is violated on a closing basis. We also have PS/R at that
level. Note that the daily chart has found support at the 786, so there is room for price to rally from this point - keep this in mind for the week ahead.
Follow me on twitter @fxdailyforecast where intraday updates
are tweeted.
Will be going long if:
No long setup at present. We don’t have any entry criteria
for long trades at present, stand aside.
Will be going short if:
With the new B low, we still waiting for a retracement to the 618/786
where we will be looking for short trade setups. A sustained break of 3433
negates this view and opens the upside.
No comments:
Post a Comment