Trade view /
25 February 2016 at 6:50 GMT
Bearish signals on the week and in each of the last two days have been confirmed, with investors selling the market on Wednesday to post a fifth lower daily high and low in a row and for a loss of just over 1 Big Fig on the day.
Daily signals for sentiment are oversold with prices trading at 2¾ year lows and the potential for a profit-taking bounce is growing. Going into Thursday gains in Asia have seen a trend of lower daily highs ended. Along with the formation of a bullish daily Hammer on Wednesday signals are pointing to a temporary recovery.
Management and risk description
Allow room to buy a dip and raise stop to entry if the first target is met.
Entry: market and 123.55, today's open in Asia.
Target: 124.58, Tuesday's high and 125.58, this week's top.
Source: all charts CQG. Create your own charts with SaxoTrader; click here to learn more
— Edited by Gayle Bryant