Seems to me dollar is set for bigger correction as long trade got too crowded recently. Appropriate development is to be seen in gold btw, where shorts started to cover a little.
See several reasons for exhaustion of dollar run and completion of W3 started @72.69:
- 103.5 resistance
- 103.32 w5=w1 ext target
- longterm ascending channel median hit
- Wolffe pattern 1-3 line hit
Currently weekly top doji breakdown triggered sell signal.
There is lot of supports below, however, expecting retrace at least to inner epa 1-4 line (pink), more likely to 92 area where is .382 fib @91.93, max to W1 top 89.61.
Trade safe all.
See several reasons for exhaustion of dollar run and completion of W3 started @72.69:
- 103.5 resistance
- 103.32 w5=w1 ext target
- longterm ascending channel median hit
- Wolffe pattern 1-3 line hit
Currently weekly top doji breakdown triggered sell signal.
There is lot of supports below, however, expecting retrace at least to inner epa 1-4 line (pink), more likely to 92 area where is .382 fib @91.93, max to W1 top 89.61.
Trade safe all.
Trade closed: target reached:
ap line hit :)
