Technicals:-
W & D TF bearish.
D TF rejected resistance of the bearish channel and continued lower (likely due to stronger USD from 16 Feb's manufacturing index result)
H4 TF shows rejection at 1.20585 at 0600UTC & 1000H UTC.
Higher probability breaking lower once it breaks the 1.20640 support.
Fundamentals:-
Events:
High (17 Feb - 1330H UTC)
Retail Sales ex Autos (MoM)
Retail Sales Control Group
Retail Sales (MoM)
Medium
Producer Price Index ex Food & Energy (YoY)
Strat: Trend continuation
Plan: Assess again at 1330H UTC (announcement of fundamentals) till 1400H UTC (if 1000H UTC Candle forms below the support of 1.20640, expect a continuation and reassess)
Entry: Short @ 1.20555 when candle forms below support once past 1330H UTC.
STPL: Above S&R Area of 1.20855 with a 10 pip gap.
TP: Half at Support of D TF Bearish Channel and trail STPL subsequently
W & D TF bearish.
D TF rejected resistance of the bearish channel and continued lower (likely due to stronger USD from 16 Feb's manufacturing index result)
H4 TF shows rejection at 1.20585 at 0600UTC & 1000H UTC.
Higher probability breaking lower once it breaks the 1.20640 support.
Fundamentals:-
Events:
High (17 Feb - 1330H UTC)
Retail Sales ex Autos (MoM)
Retail Sales Control Group
Retail Sales (MoM)
Medium
Producer Price Index ex Food & Energy (YoY)
Strat: Trend continuation
Plan: Assess again at 1330H UTC (announcement of fundamentals) till 1400H UTC (if 1000H UTC Candle forms below the support of 1.20640, expect a continuation and reassess)
Entry: Short @ 1.20555 when candle forms below support once past 1330H UTC.
STPL: Above S&R Area of 1.20855 with a 10 pip gap.
TP: Half at Support of D TF Bearish Channel and trail STPL subsequently
Trade active
USD Bullish. Continue short at 1330H UTCTrade active
Increased position.
Trade closed: stop reached
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.