A bearish Head and Shoulders has formed. Negative overnight flows lead to an expectation of a weaker open this morning. Selling posted in Asia. We look for a re-test of the downward trending resistance. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 1.7325, resulting in improved risk/reward.
We look to Sell at 1.7325 Stop: 1.7375 Target 1: 1.7150 Target 2: 1.7100