The range breakdown below 140.40 yesterday was confirmed by a decline today. The initial move has had a pullback towards the breakdown which now becomes resistance and gives a chance to sell.
I now expect a move back towards the support around 139.00.
I have placed my stop at 140.81 (41 pips) which is above the intraday resistance at 140.68.
At Hantec Markets Ltd we provide an execution only service. Any opinions expressed by analyst Richard Perry should not be construed as investment advice or an investment recommendation. This report does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. Forex and CFDs are leveraged products which can result in losses greater than your initial deposit. Therefore you should only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved, seeking independent advice if necessary prior to entering into such transactions.