Many times us traders trying to be successful at what we do we get to complicated with the details of the smaller time frames. Looking at the BIGGEST picture we can conclude that the Greenback it's in a downtrend and that probably will continue unless it breaks through the top of the channel. But in the meantime it's approaching a level that it's being pivotal for the last couple of decades: 92.63
. Determining the direction of the currency will depend on a bounce or a break off this level. Important thing to keep in mind it's that we have gotten two lower monthly closes that could build a case for a bearish
scenario. Anyways like always happy trading and
May the Market be with you.