Time Frame - Mid term
Last Friday prices of USD has been driven higher by the positive economic data. However, as the chat still shows the the longer term downtrend we will still maintain short.
Current price is not moving in a clear direction, we might want to wait for price to either break above current and hit 106.50 and short it. Otherwise, we will wait for price to fall below the 105.80 where the price was before the economic data release and target at 105.5 where it will meet strong resistance , but if the price break, we will expect it to go to 104.50.
Long will only initiate if price can maintain above 107.00.
Last Friday prices of USD has been driven higher by the positive economic data. However, as the chat still shows the the longer term downtrend we will still maintain short.
Current price is not moving in a clear direction, we might want to wait for price to either break above current and hit 106.50 and short it. Otherwise, we will wait for price to fall below the 105.80 where the price was before the economic data release and target at 105.5 where it will meet strong resistance , but if the price break, we will expect it to go to 104.50.
Long will only initiate if price can maintain above 107.00.