On the weekly chart there is a well-defined rising wedge pattern, drawn from 2012
Chris Weston
Pepperstone
On the weekly chart there is a well-defined rising wedge pattern, drawn from 2012. The upper trend line comes in at 1913, so despite momentum being to the upside it could be interesting to look at an aggressive short position at 1895, with a stop loss at 1915, for a back to 1860. In US trade today we get the latest services ISM report and the market expects an improvement to 53.5 (from 51.6) on the index. The USD should find good support on this print as well, especially if the employment sub-component shows solid expansion.
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Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market price action and advise on actionable trade ideas and investments in multiple asset classes.
Chris Weston
Head of Research
Pepperstone
Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...
Expertise
Chris Weston
Head of Research
Pepperstone
Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...
Expertise
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