Goal markets fell on Wednesday, slicing through the $1200 level. This is a major breakdown of support, and as a result I think the goal probably goes much
Goal markets fell on Wednesday, slicing through the $1200 level. This is a major breakdown of support, and as a result I think the goal probably goes much farther to the downside. I have a target of $1100 at this point, and realize that short-term rallies will be selling opportunities. Any signs of exhaustion after shorter rally looks suspicious to me, and therefore I would begin to get very bearish of the market yet again. I have no interest in buying into we can break above the $1250 handle. With this, go looks as if it is completely rolling over.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
