Reasons: 1. Cluster of 5 days where the high is very similar = explosion pattern. 2. Range expansion "UP-bars" on the daily chart highlighted with blue triangles. 3. Range expansion "UP-bar" on the weekly chart 4. Volume building at the 16.50-16.60 level appears to be a breakout level if breached could lead to a balance point up in the high $17 range (maybe $18 or more). 5. Close stop makes it an attractive trade even if I am wrong.
I think the dollar will weaken further here.