EU just broke the high and ran into my weekly pitchfork line with equal measurement to leg one breaking trend line. It is possible that it comes down to low of larger correction from here, but that is just 1 possibility. May just retest the 120 level or the high it made there. If it is going to come down for a larger pattern, this is the zone it will do it from, otherwise I would want confirmation for a continued uptrend by a flag. I tend to believe the dollar will go bullish when I look at all the patterns and levels its pairs are at, the dollar is shooting down breaking the low as I type this.
Commentaire:
I feel the need to mention that I am not selling Yet. I am not buying it either. That is the daily chart. I always want setups on smaller time frames personally. I am not liking what I am seeing today and I will wait for more chart data and setups next week. I do understand the bearishness of the dollar but I see too much conflicting data on the charts and see the possibility of the dollar coming up after breaking its low, and also the always possible continuation downward.