hello everyone, am happy to be back here and able to share my own view and bias on this pair which still remains to the upside, looking from the daily tf. price seems to reject the lows @33555, and going down to the 4h yes price broke below the 33555 area and broke back up and right now is holding that area as support as buying are looking to drive price back up to the highs. To add to more confluence price is still above the 100&50 sma on the daily and has broken above the 100sma on the 4h that's acting as support. To further strengthen my decision on this the US dollars index (DXY) is still looking to the downside as we await for the news release of the PPI today, therefore a weak dollars will strengthen the US 30 further but a strong dollars to emerge will weaken the US 30.
this is just my view and idea on this pair not a financial advise. thanks and happy trading day ahead.
this is just my view and idea on this pair not a financial advise. thanks and happy trading day ahead.