Fundamentals:
-key eco indicators further deteriorating (Ger factory orders, PMI, etc)
-no brexit deal -> EU and GB both will suffer
Technicals:
- daily 200MA reached
- fake out candle -> indication of bulls getting tired
Trade plan
- took a short from 1.1390 based on H4
- target 61.8 Fib retracement (1.1290)
- if risk sentiment improves, stocks move higher, CHF sold -> stop out @ 1.1428
-key eco indicators further deteriorating (Ger factory orders, PMI, etc)
-no brexit deal -> EU and GB both will suffer
Technicals:
- daily 200MA reached
- fake out candle -> indication of bulls getting tired
Trade plan
- took a short from 1.1390 based on H4
- target 61.8 Fib retracement (1.1290)
- if risk sentiment improves, stocks move higher, CHF sold -> stop out @ 1.1428