Price Action: Bullish
Pattern: Overextended inverse head and shoulders.
Long-Term Momentum: *Bearish
Short-Term Momentum: Bullish
Bias: Neutral
Action: Wait until price corrects and finds support; however, price does have a chance to run another 100 pips before a major correction. Price closed as doji star. Sunday should give better indication of direction.
Comments: Would like to see price continue to run up but chances are slim. Hopefully, USD can continue its push. If so, we will see price move up another 100 pips. No major exponential runup either. It would be nice to see price connect with 29 EMA at some point in time.
Pattern: Overextended inverse head and shoulders.
Long-Term Momentum: *Bearish
Short-Term Momentum: Bullish
Bias: Neutral
Action: Wait until price corrects and finds support; however, price does have a chance to run another 100 pips before a major correction. Price closed as doji star. Sunday should give better indication of direction.
Comments: Would like to see price continue to run up but chances are slim. Hopefully, USD can continue its push. If so, we will see price move up another 100 pips. No major exponential runup either. It would be nice to see price connect with 29 EMA at some point in time.