August 17 daily candle perfectly rejected the long-term trendline
We have August 17 closing @ 104.437
Closing below August 14 high 103.458
Closing below August 16 high 103.525
These additional confluences generate a strong bearish bias.
With first target of liquidity.
- August 17 low of 103.061
Second target.
-August 16 low of 102.944
-------------------------------
Additional note.
If the weekly candle close below PV-week high @102.91
we should expect a further retracement to 102.77 around fvg daily area.
Note
correlation$$$$ - weak
sell USD-XXX
buy XXX-USD
Note
![BEARS IN CONTROL [UPDATE#2]](https://s3.tradingview.com/g/GZbBnKUd_mid.png)
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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.