AUD STRENGTH - On the 20/02/2019 The Conference Board leading index forecasted an expansion on the Australian economy. This leads to a slight long bias on AUD. - The Logikfx score also shows a strong reading at 20, increasing from 0 earlier in the week. This strength shift indicates a potential change in cash flow to the Aussie economy.
EUR WEAKNESS - on the 22/02/2019 the German IFO Institue for Economic Research released a lower than expected score. It's a leading indicator of economic health - businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment. - Logikfx score for EUR is sitting at -31 showing a contracting economy.
Technical Formations - The combination of trendline hits and evening start formations sets up for an excellent short opportunity.
Trade already entered, waiting for final TP area to be hit.
This setup looks very promising, going to be using this in one my ideas too! EURO weakness is definite with not only the negative IFO but also the Italy debt crisis.