The bulls look exhausted after the short rally to test the trendline break gap at around the 1.1440 level, forming a double top formation. This is a good opportunity for a short position targeting the 1.12800 level
Stop losses should be placed beyond the double top zone allowing for a 1:3 risk/reward trade to the weekly support zone
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.