Over on the H4 timeframe, nevertheless, candle action is so far meeting the characteristics of an formation completing between 1.1760/1.1696. What’s also interesting here is that this completion zone merges with the 1.17 handle, a broken Quasimodo H4 line at 1.1696, a 50.0% resistance value at 1.1706 and the noted weekly .
Suggestions: Technically speaking, the green H4 area marked at 1.1760/1.1696 is a sell zone worthy of consideration. From a fundamental standpoint, however, US job’s data could alter this configuration, which is expected to rise by 312K.
Data points to consider: US Job’s figures and US trade balance at 12.30pm; US ISM non-manufacturing PMI and US factory orders m/m at 2pm; FOMC member Kashkari speaks at 4.15pm GMT .
Levels to watch/live orders:
• Buys: Flat (stop loss: N/A).
• Sells: 1.1716/1.1696 (stop loss: 1.1718).