Lights Out US Dollar Rally? Are the Stars Aligned?
We have many pieces of criteria suggesting to us on the weekly monthly and smaller time frames "Sell in May and go away" US Dollar rally has at the least hit a wall if not stronger reversal potential. This is seen across multiple dollar pairs, but I will just post what I see for AUD/USD in this instance:
1. Large Weekly Bullish Bat pattern with strong wick rejection and closes moving higher
2. Daily time frame we had an inverted HS pattern that has now tested with a stronger higher low total rejection.
3. Astrological: Full Moon+Mercury sign change on a Wednesday (typical day for market reversals)
Notice also the smaller time frame Triple bottom EUR/USD just made after taking out the weekly swing low low by a few pips. Although this analysis (like any analysis) could be wrong, we seem to be in a good spot for reversal with a fair bit of confluence. Historically "Sell in May and go away" has met strong reversal endings in early June in some instances.
Trade carefully.
Cheers
1. Large Weekly Bullish Bat pattern with strong wick rejection and closes moving higher
2. Daily time frame we had an inverted HS pattern that has now tested with a stronger higher low total rejection.
3. Astrological: Full Moon+Mercury sign change on a Wednesday (typical day for market reversals)
Notice also the smaller time frame Triple bottom EUR/USD just made after taking out the weekly swing low low by a few pips. Although this analysis (like any analysis) could be wrong, we seem to be in a good spot for reversal with a fair bit of confluence. Historically "Sell in May and go away" has met strong reversal endings in early June in some instances.
Trade carefully.
Cheers
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