After US presidential election in the DXY index we experienced a sharp bullish impulse. After that, as expected we had a correction with a strong support in the 100.6 level forming a triangle that was touched at least 5 times over the past 2 weeks. Today I was surprised when that level was surpased bearish. but the interesting thing is that we found a new pattern, and now I see a corrective flag in between pink lines. I always prefer tech analysis over fundamentals but I already know that market is getting ready for FOMC next week (with a 100% of probability of an interest rate hike), we can say at least that todays movement was erratice but understandable. In the month or week time frame bullish is still the king. For me, market is getting ready for next week and will be waiting for news around 101.31. In the meantime we should expect bull correction getting us near to that point. For this trade Entry Point 100.24 or now, TP 101.0 and TP2 100.31 probably by the end of this week.
Trade ist aktiv:
Forgot SL 99.61
