Trade Idea
Broken out of the channel formation to the downside.
Continued downward momentum from 7404 resulted in the pair posting net daily losses yesterday.
Negative overnight flows lead to an expectation of a weaker open this morning.
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 7310, resulting in improved risk/reward.
Expect trading to remain mixed and volatile.
We look to Sell at 7310
Stop: 7355
Target 1; 7095
Target 2: 7005
Broken out of the channel formation to the downside.
Continued downward momentum from 7404 resulted in the pair posting net daily losses yesterday.
Negative overnight flows lead to an expectation of a weaker open this morning.
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 7310, resulting in improved risk/reward.
Expect trading to remain mixed and volatile.
We look to Sell at 7310
Stop: 7355
Target 1; 7095
Target 2: 7005
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