Daily chart simple showing an inverted H&S plus 2 retest on 96.50 on late July last month before this rate cut thing...
and after rate cut, market did crash from 98.90 high then now PA quickly pullback to fib level 50.00 zone
which often market did a healthy pullback for further push higher...
i foreseen this last push will be much greater strength to trap the sellers and go highers since there are many liquidity orders being placed above 97.50 & abv
This is just a pre- game of the DXY show, as president running for the show till next year... people need to see some convincing economy data or news to vote.
Let's trade safe & don't too quick to jump in conclusion that we are in a down trend.
and after rate cut, market did crash from 98.90 high then now PA quickly pullback to fib level 50.00 zone
which often market did a healthy pullback for further push higher...
i foreseen this last push will be much greater strength to trap the sellers and go highers since there are many liquidity orders being placed above 97.50 & abv
This is just a pre- game of the DXY show, as president running for the show till next year... people need to see some convincing economy data or news to vote.
Let's trade safe & don't too quick to jump in conclusion that we are in a down trend.
Price will need to find new demands again.
Lets see... a very good demand is at 98.00 level which prev hold very strongly.
Let's buckle for next wave up again!