I hope everyone has had a relaxing weekend ready for the trading week ahead.
The market closed on Friday forming a clear Bearish engulfing candle, suggesting that there is further downside potential
Based on the Stochastics I believe we will see a corrective retracement first, to around the 1.116235 position before downside continuation
From a technical perspective, liquidity is favouring Short position, however either choose your Lots size wisely to enter early or better yet wait for corrective confirmation (accumulating more liquidity) and look to short at around 1.16239
Best of luck.
The market closed on Friday forming a clear Bearish engulfing candle, suggesting that there is further downside potential
Based on the Stochastics I believe we will see a corrective retracement first, to around the 1.116235 position before downside continuation
From a technical perspective, liquidity is favouring Short position, however either choose your Lots size wisely to enter early or better yet wait for corrective confirmation (accumulating more liquidity) and look to short at around 1.16239
Best of luck.