Hoping for a bull flag -- coming off the bounce off support of the broadening, ascending wedge on the daily -- which does not drop below 91.069, though a few pips lower shouldn't ruin the entry on USD long pairs.
If this runs back to the midline, it could top out around 92.634 to 92.726 by mid-May, before a little bounce down.
Foreign currency pairs, and maybe even Bitcoin might be expected to behave as expected in response.
In short, if DXY holds above 91.0x on 2 May, expect a bullish impulse on 3 May.
@lockhartT @Vez_Will
If this runs back to the midline, it could top out around 92.634 to 92.726 by mid-May, before a little bounce down.
Foreign currency pairs, and maybe even Bitcoin might be expected to behave as expected in response.
In short, if DXY holds above 91.0x on 2 May, expect a bullish impulse on 3 May.
@lockhartT @Vez_Will
Comment:
EDIT: 2 May should be 3 May, and 3 May should be 4 May in the caption above.
Comment:
So far, the flag has formed, but is a bit longer than hoped. Still expecting a bullish impulse.
Trade closed: stop reached:
The flag did not hold as anticipated. USDCAD &USDJPY went down in the process. GBPUSD pumped today.