Today's growth and the strong decline below the opening price may suggest a long-awaited correction. For this turn of events is also supported by the daily candle, which may indicate a trend reversal. Another aspect that suggests a strengthening of the dollar in the near future, is its seasonality. May is a particularly good month for the US currency, which strengthened in the past to most currencies. It was no different in previous years, the main currency pair. Over the past 10 years, the dollar strengthened against the euro in May, up to 8-fold. The last argument, which supports the camp bears is the fact that after the recent rally almost six months, the correction in May would be a natural thing.
If my suspicions are correct, then in the near future we should see declines towards lower price levels. The closest props are the peaks of mid-October at 1,1489-95. After their break open the way towards the next support levels are located at levels 1,1437-65 (peaks in the first half of April). Further support will be around the level of 1.1416 and 1.1376.
If my suspicions are correct, then in the near future we should see declines towards lower price levels. The closest props are the peaks of mid-October at 1,1489-95. After their break open the way towards the next support levels are located at levels 1,1437-65 (peaks in the first half of April). Further support will be around the level of 1.1416 and 1.1376.
Trade active:
still open short position 1,1517 TP 1,1415
Trade closed manually:
1,1425