Market Analysis: The pair is forming a downward channel, Now it has reached the support level of the channel. We can expect a break above the minor resistance and reach the channel resistance and get into a pull back. So lets wait and see what the market does in the coming days. Cheers!
Comments
RahulAndra
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How are you taking a positional short in USDJPY GPUSD EURUSD all at the same time sir? UJ is still maintaining 80%+ positive corr w/ dxy on the daily TF
Kishore
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@RahulAndra, Well we cant depend only upon the dollar index. Still there are other factors that affect country's individual strength. So sometimes it happens all goes in the same directions.
SwingFish
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with the USDollar almost reversing .. this is still valid ?
Kishore
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@nullx8, Well yes trend is near the change. So better to wait, Il update it few hours. Cheers!