Daily Outlook: Our long came within a few pips of being triggered yesterday as we were looking for a sustained break above 4235 that never materialized – and good thing because resistance held and the pair dropped into the low 4100s on the day. There were plenty of bearish CP signals to get short on below resistance that put some profit in our pockets:
Trading Idea: It is Friday and US inflation data is out at 13:00 UTC so we will NOT be trading today, as usual (all pairs), but as you can see on the chart above we are bearish below falling trend resistance at 4200 and would look for shorts below that level, or our preferred trade would be to get long on a sustained break above 4200 targeting 4300 and 4350.
