The most recent break below 110.5 indicates that this sell-off towards the end of the Fiscal year is looking impulsive in nature. This is a result of combination of flows from Yen repatriation for the FY end and risk-off via Central Bank uncertainty, Brexit and Meuller (now cleared).
Any pullbacks towards 110.2 and 110.5 should be considered corrective and countertrend offering great opportunities on the sell-side. The targets below for shorts come into play at 109.3.
I am actively adding exposure on all pullbacks as mentioned. Best of luck for those joining.
Any pullbacks towards 110.2 and 110.5 should be considered corrective and countertrend offering great opportunities on the sell-side. The targets below for shorts come into play at 109.3.
I am actively adding exposure on all pullbacks as mentioned. Best of luck for those joining.
Comment:
A quick update here :
Trade closed: target reached
