Price now making another rejection to 1.20800-1.21000 weekly resistance, & looks to be making a potential double top' after completing its inverse Head on shoulders pattern. If this level of resistance continues to hold, I will be looking for a deeper retracement on this pair..
@justshortcut, yeah I was long last night, but now that I see this potential double top I closed out & will look to re enter after a clean break of resistance
GeniusTraderWorldwide
⋅
@eazywayout, did u see the 6 and the 8 hour candle ?
Profound_Ambition
⋅
@justshortcut, yeah daily is rejecting, lets see if this next candle can close above or not in 4 hours
GeniusTraderWorldwide
⋅
@eazywayout, ok did u also see the bearish flag in the usd index ?
GeniusTraderWorldwide
⋅
@justshortcut, 4 h usd index
Profound_Ambition
⋅
@justshortcut, yessir, but 91.80 is holding for the dollar so far, if that breaks I will consider more dollar weakness, NFP Friday dollar can rebound potentially.. FOMC went in favor of the dollar yesterday, we could be in for a surprise so I will wait most likely for a weekly close on this pair before trading
GeniusTraderWorldwide
⋅
@eazywayout, alright good luck but im saying it will go at least to 1.22
Profound_Ambition
⋅
@justshortcut, that would be my upside target. I will wait for further confirmation price could definitely go either way, however that potential double top & inverse H&S completion could show a sign on a retracement. Lets see what price action points toward.. Good luck to you as well boss !