Currently UJ is in a large consolidation, However we've seen bearish pressure as price failed to hit the Top of the consolidation box. Do note that USD retail sales would be expected later today; (Leading towards more bearish USD)
Core Retail Sales m/m (Forecast/Previous)
-0.1% -0.4%
Retail Sales m/m
-0.7% -1.1%
I'm looking at 2 potential entries for a sell:
Sell 1 (Sell Limit):
The entry would be on a retest of the previous Lower High to fill the liquidity left around level 109.600-109.700.
Sell 2 (Sell Market):
Wait on a bearish confirmation on level 109.500 to enter market in case price doesn't test Sell Limit area
Take Profits (Both orders):
Take profits will be placed on the bottom of the Consolidation box with a partial profit would be at previous low.
Core Retail Sales m/m (Forecast/Previous)
-0.1% -0.4%
Retail Sales m/m
-0.7% -1.1%
I'm looking at 2 potential entries for a sell:
Sell 1 (Sell Limit):
The entry would be on a retest of the previous Lower High to fill the liquidity left around level 109.600-109.700.
Sell 2 (Sell Market):
Wait on a bearish confirmation on level 109.500 to enter market in case price doesn't test Sell Limit area
Take Profits (Both orders):
Take profits will be placed on the bottom of the Consolidation box with a partial profit would be at previous low.