This is a simple and clear analysis, Normally once the range is broken we expect the market to be moved on either side in three major moves before it decides to look for another direction. If you have come across the Eliiot wave principle will understand. For those who have no knowledge about feel free to research about it.
Another market that is telling me that USD could be strong today. Backed up with my other indicators, RSI
. On RSI
looks like it will retest the level 50 before it resumes back north. This means there could be a market manipulation. With MACD
about to cross the 0 level. Hence strong bullsh sentiment.
Good luck and Happy Trading :)