The US Dollar took a correction yesterday but bounced of the trendline shown in the chart and is currently following the channel 2 labelled on the chart.
My suspicions are that if the lower trend line holds then the US Dollar will proceed to range within channel 2.
Keep your eye on this as this will give indication on whether US correlated pairs bounce back today and tomorrow. Alternatively, if the trendline gives way including the lower trendline, expect a move towards the 98 region.
For more exciting information on analysis please visit my website which is currently being developed, but you can sign up to find out when my release is at: www.ejfxtrading.com
My suspicions are that if the lower trend line holds then the US Dollar will proceed to range within channel 2.
Keep your eye on this as this will give indication on whether US correlated pairs bounce back today and tomorrow. Alternatively, if the trendline gives way including the lower trendline, expect a move towards the 98 region.
For more exciting information on analysis please visit my website which is currently being developed, but you can sign up to find out when my release is at: www.ejfxtrading.com