Even though fundamentally the USD it's posed for a decline in the long term, we should witness a correction to the top of the descending channel in the next couple of weeks. Price action this week supports my analysis. Double Bottom at 95.93 during yesterdays and todays sesions plus a perfect .786 retracement to C from the move A to B makes it a great technical picture.
Also some of the majors like the AUD/USD have reached important resistance levels and are extremely overbought, positioning them for a much needed retracement. I'm placing my stops a few pips away from recent highs and expecting a move that should cover several hundred pips over the next two weeks. Making it a great Risk to Reward ratio. Have a great weekend.
May the Market be with you.
Also some of the majors like the AUD/USD have reached important resistance levels and are extremely overbought, positioning them for a much needed retracement. I'm placing my stops a few pips away from recent highs and expecting a move that should cover several hundred pips over the next two weeks. Making it a great Risk to Reward ratio. Have a great weekend.
May the Market be with you.