Looking through pure price action perspective. This pair was under performed for past month. When dolar index reach 98.3 last week, this pair should has at least achieved parity, as we have seen in the past. It seems the price unable to go up due to lack of retail seller as there were a few attemps since 8/13 by MM to entice retail trader to sell and apparently it doesnt work. Going forward, and taking consideration of aharp drop on Fariday, 2 scenarios is possible. A further consolidation around 0.97700 if retail seller still
absent. 2nd scenario is if retail seller comes back in huge number, the outcome will be gradual upward correction or even a Spike to almost 0.99000 if there is sufficient seller.
absent. 2nd scenario is if retail seller comes back in huge number, the outcome will be gradual upward correction or even a Spike to almost 0.99000 if there is sufficient seller.
Comment:
more like 2nd scenario, but so aggressive to reach 0.99