Trade Idea
Trading within a Bearish Channel formation.
We have a 38.2% Fibonacci pullback level of 1.1136 from 1.1066 to 1.1249.
The bias remains mildly bearish but there is scope for a move in either direction at the open.
Preferred trade is to sell into rallies.
Expect trading to remain mixed and volatile.
We look to Sell at 1.1135
Stop: 1.1165
Target 1: 1.1030
Target 2: 1.0970
Trading within a Bearish Channel formation.
We have a 38.2% Fibonacci pullback level of 1.1136 from 1.1066 to 1.1249.
The bias remains mildly bearish but there is scope for a move in either direction at the open.
Preferred trade is to sell into rallies.
Expect trading to remain mixed and volatile.
We look to Sell at 1.1135
Stop: 1.1165
Target 1: 1.1030
Target 2: 1.0970
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