Hey, traders. It's already friday. Hope you guys have a great weekend. There were big movement on the chart. Let's check and find some good position for the next movement.
We can see 1. long-term descending channel 2. descending momentum to 0.93000 3. overlapped resistance on 0.99000
We should check Friday - Core Retail Sales (MoM) (Sep), Retail Sales (MoM) (Sep)
We can expect 1. the price drops from the reistance on 0.99000 to 0.93000 by the descending momentum. 2. the price jump up to 1.01000 if it breaks the resistacne on 0.99000 while breaking momentum.
According to our last analysis, we already mentioned there will be jumping up from 0.96500. We could make good trade from that and hope you guys had good one, too. At this time, we are waiting for Short position on 0.99000. (0.98200 can be a good point for short position, too.) Let's see if we can make it.