I am comparing the sp500 with the pair USD JPY to see If USD could continue to fall or yen to strenghten
From a Technical standpoint I am using structure based strategy to short the sp500 a head and shoulders pattern has occured and previous key support trend has become resistance and a break with the neckline and the green support line would mean price could head lower to the 618 retracement or further
From a Macro economic standpoint when Yuan had strenghtened you could see US stocks to fall because of less revenue
but we see USD retrace very sharply but this could be a retracement and fall even further
Stops are placed when looking at the daily around 2059 resistance trend
targets at 618 and further
From a Technical standpoint I am using structure based strategy to short the sp500 a head and shoulders pattern has occured and previous key support trend has become resistance and a break with the neckline and the green support line would mean price could head lower to the 618 retracement or further
From a Macro economic standpoint when Yuan had strenghtened you could see US stocks to fall because of less revenue
but we see USD retrace very sharply but this could be a retracement and fall even further
Stops are placed when looking at the daily around 2059 resistance trend
targets at 618 and further