Of course, a lot people would see that the chart is forming a inverted H&S but that also mean the big player too soo be careful of price manipulation. Especially tonight.
Technical:
Long - 0.769 need to hold to form H&S if it does next target is 0.781 if broken then 0.801 if it still can't hold then 0.816 which is multi year high.
Short - if 0.769 can't hold then 0.762 and 0.756. In my opinion, as long as 0.756 hold then continuation is very likely in the long term. Otherwise, 0.741 is the target.
Fundamental:
The stimulus check has been sent out in the US which is pretty much printing more money and almost always ended in hyper inflation which, in theory, dollar should get weaker and there is already a talk about another stimulus after this(though this need to be checked again). But the dollar is getting stronger and this is likely because things are getting better and people spend more money means more business going to get better.
but tonight is the most important - interest rate. Because that is how to control inflation/deflation
Conclusion:
As any good trader should know - don't hope don't predict but wait - because hope is for the hopeless in trading. So wait and see and after this week market should get moving again since this week is all about interest rate so a lot of people being cautious leads to the market being choppy.
p.s. I just started doing fundamental so it may or may not be accurate.
Technical:
Long - 0.769 need to hold to form H&S if it does next target is 0.781 if broken then 0.801 if it still can't hold then 0.816 which is multi year high.
Short - if 0.769 can't hold then 0.762 and 0.756. In my opinion, as long as 0.756 hold then continuation is very likely in the long term. Otherwise, 0.741 is the target.
Fundamental:
The stimulus check has been sent out in the US which is pretty much printing more money and almost always ended in hyper inflation which, in theory, dollar should get weaker and there is already a talk about another stimulus after this(though this need to be checked again). But the dollar is getting stronger and this is likely because things are getting better and people spend more money means more business going to get better.
but tonight is the most important - interest rate. Because that is how to control inflation/deflation
Conclusion:
As any good trader should know - don't hope don't predict but wait - because hope is for the hopeless in trading. So wait and see and after this week market should get moving again since this week is all about interest rate so a lot of people being cautious leads to the market being choppy.
p.s. I just started doing fundamental so it may or may not be accurate.