Prices traded in a tight range last week but have found strong resistance at the 54.6 level. So far the daily demand line has seen 3 bounces and will likely be tested again by Wednesday. Although prices rallied on the unexpected neutral reports last week I doubt we will see another week of the same; as well, the DX seems to have found some temporary footing and I believe that although March rate hike sentiment is low that it will still bring out potential fear, pressuring oil and elevating the USD. I am looking at 54.30-54.75 as a selling zone and on a break of the demand line will look for a retest of the Last Point of Demand - targeting 52.36 after which I will look for prices to validate the demand/supply exchange and retest the 53.30 level.
Good trading all! Comments and questions are welcome!
Good trading all! Comments and questions are welcome!
註釋
Prices have close below and broken the 14 week demand line. With rate hike sentiment increasing which should continue to elevate the DX and pressure oil prices; I will expect continued breakdown and am looking for TP2 short term after which i expect some consolidation in the lower trading level.註釋
If we see further breakdown; these are my assumptions of lower consolidation over the next 5 trading dayss3.amazonaws.com/tradingview/snapshots/h/H7A3MkNX.png
註釋
Target 1 reached; still waiting on target 2: If you are not already active in this short please see next weeks chart for entry level:
註釋
TP2 target reached; taking profits is always a wise move and that is what I would advise; however I am holding short as my downside targets are much lower; this trade is closed; see my larger short target here: 
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。