Taking top-down analysis into consideration it can be concluded that the bulls have been in control for the past two weeks. The weekly candlestick close indicates that this bullish momentum is likely to continue. The daily candlestick close on Friday was a bearish engulfing candle which indicates a rejection of the 1.29000 level. This could be a potential setup...
The latest bullish price action on the DXY gave rise to a strong reaction from aussie bears. However, we can see that last week Friday's daily close was that of a bullish engulfing candlestick. This can indicate two things, firstly, it could indicate a major trend reversal or it could signal a pullback to retest previous levels. In my opinion, the first scenario...
Dollar bulls have clearly been flexing their muscles in the last two weeks. Given last week's strong bullish weekly close we can expect the bullish momentum to continue. The daily candlestick close was a shooting star, this has two implications, one of which can signify a pullback to retest the most recent support level that can be seen on my chart or if we have a...
Conducting top-down analysis, it can be seen that the bears have been exerting their power on the monthly, weekly, and daily time frames in this pair. With the recent bullish price action noticeable in the dollar we can expect a continuation of this bearish momentum should the dollar bulls remain in control this week. However, if we take a look at Friday's daily...
