Comments on the chart. I am leaning more to the downside but will take whatever is given to me by the market
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Price fell today giving credit to the downside idea.
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Price rose today not continuing to support the trade idea. As this was based off a weekly chart we have to allow for some 'to and fro'. I am keeping a close eye on this one
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The stock market and the $ roared upwards and this pair is hugging the upper resistance line. The bearish case, while not dead yet, is being threatened big time. Tomorrow will be interesting as the new Fed chairman will be named. Extreme volatility is possible
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Last week came and gone without any intense breakdown or breakout in this pair despite the calendar being 'full on' with fundamentals. With the strength we are seeing in the DXY and price hugging the top borders of the structure with a lot of support buying I have to lean more towards a breakout to the upside.
Kommentar:
Despite all the ups and downs last week price generally went nowhere. Price is still in the same way as last week. So its a reset and the idea is still in play