BIAS: BEARISH 🔻
TECHNICAL PROJECTION: BEARISH
On the H4, we have a bearish bias that price will potentially create the "E" wave to continue further bearish to 1.1825 target to complete its "e wave" from the bearish descending triangle pattern.
FUNDAMENTAL PROJECTION: BEARISH
DXY STRENGTH: Market could be pricing further 75bps hike tightening to come & balance sheet reduction to continue at $60b & $35mbs over the three month timeframe.
+Anticipating a bearish breakout tomorrows NFP
GBP WEAKNESS: Anticipation is for the GBP to continue to be weighed down by the concerns over a global recession.
TECHNICAL PROJECTION: BEARISH
On the H4, we have a bearish bias that price will potentially create the "E" wave to continue further bearish to 1.1825 target to complete its "e wave" from the bearish descending triangle pattern.
FUNDAMENTAL PROJECTION: BEARISH
DXY STRENGTH: Market could be pricing further 75bps hike tightening to come & balance sheet reduction to continue at $60b & $35mbs over the three month timeframe.
+Anticipating a bearish breakout tomorrows NFP
GBP WEAKNESS: Anticipation is for the GBP to continue to be weighed down by the concerns over a global recession.
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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.