To start the month of August, our expectation was for the King Dollar to retest the highs before moving lower. That, however, wasn't the case as USD closed above the monthly downtrend line. If you have been following this analysis for a few weeks back, price levels and trend line hasn't changed a bit (except for a couple add-ons - update). Looking even further into price momentum, it seems as if the break of the trend line offers fresh new leg to more bullish price action in days ahead.
Happy Trading, folks!
Cheers!
Happy Trading, folks!
Cheers!