If the stock market slump continues, this pair will more likely go down further especially it has started to form a head and shoulders pattern in the daily chart. Setting up sell stop order @1316 with TP @1300 and SL near latest daily high @1325. Must be careful though because this pair is sensitive to US Fed news, and looking at the weekly chart, there's still a possibility that it will breakout on the upside instead.
www.dailyfx.com...Correction.html?DFXfeeds=f...
www.dailyfx.com...till-Weigh.html?DFXfeeds=f...
Daily
Weekly
Confidence: B (a bit risky, monitor closely; depends on any news about market tightening esp US Fed Rate Hike, which affects both stocks and gold)
www.dailyfx.com...Correction.html?DFXfeeds=f...
www.dailyfx.com...till-Weigh.html?DFXfeeds=f...
Daily
Weekly
Confidence: B (a bit risky, monitor closely; depends on any news about market tightening esp US Fed Rate Hike, which affects both stocks and gold)
Operación cerrada manualmente:
Manually closed to lock in some gains for the week. Will most likely resume bearish position next week.