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.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
