Hi traders.!
We've now reached demand zone from 4Q 2016 - 1Q 2017. We are currently at the lowest level in two and a half years.
There are several reasons for the Cable rebound tomorrow.
- The cable is reached major buy zone today.
- FED's rate cut is expected tomorrow. This will likely move DXY down.
- DXY is forming a triple top, supply zone @98.2X level. I am expecting DXY to go down tomorrow after reaching the weekly top level along with rate cut.
- We are almost 250 pips down after no-deal Brexit risk. This is def oversold for such an expectation.
We've now reached demand zone from 4Q 2016 - 1Q 2017. We are currently at the lowest level in two and a half years.
There are several reasons for the Cable rebound tomorrow.
- The cable is reached major buy zone today.
- FED's rate cut is expected tomorrow. This will likely move DXY down.
- DXY is forming a triple top, supply zone @98.2X level. I am expecting DXY to go down tomorrow after reaching the weekly top level along with rate cut.
- We are almost 250 pips down after no-deal Brexit risk. This is def oversold for such an expectation.
Trade closed: stop reached
Trade closed: target reached