Discovering Weekly and Monthly head and shoulders pattern. We are going to be expecting a relief or pull back out of EU soon illustrated in my prediction. Why?
5 Weeks of red candles illustrated, showing the snap of price from the DXY gaining ground. This is 2 full months of dollar strength. I am expecting a possible rejection of higher prices for the DXY. Resulting in a monthly reset, or "pull back" to 1.20s or so for EU. This will allow enough breathing room, or momentum, to break the previous lows of 1.15.
With trade wars in the mid of its prime. Its likely to see a very strong dollar this year. Once the monthly reset is captured. We will be selling the EURO down to 1.09 if the market sentiment persist.
Technical s- Head and Shoulders- Monthly reset. - Overall trend.
Fundamentals- NFP Friday. GDP Wednesday. Initial Job claims. Thursday.
Potential Position.
Entry- 1.15834
SL- 1.15288
TP- 1.17513
5 Weeks of red candles illustrated, showing the snap of price from the DXY gaining ground. This is 2 full months of dollar strength. I am expecting a possible rejection of higher prices for the DXY. Resulting in a monthly reset, or "pull back" to 1.20s or so for EU. This will allow enough breathing room, or momentum, to break the previous lows of 1.15.
With trade wars in the mid of its prime. Its likely to see a very strong dollar this year. Once the monthly reset is captured. We will be selling the EURO down to 1.09 if the market sentiment persist.
Technical s- Head and Shoulders- Monthly reset. - Overall trend.
Fundamentals- NFP Friday. GDP Wednesday. Initial Job claims. Thursday.
Potential Position.
Entry- 1.15834
SL- 1.15288
TP- 1.17513
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