Hope you all had a good weekend. Recently, the USDOLLAR has been getting hammered recently skewing all i's currency pairings and in my humble opinion defying what would be normal good entry and exit points from a day trading perspective. Well, I think it might be about to have a change of direction, making me reenter the market with some reversal trades this week which favor the USDOLLAR . If you throw some strong fundamental news in along with this chart i think we can see a nice uptick this week, ending a miserable few months for the USDOLLAR . The confirmation of the US approving Pfizer's vaccine for the COVID-19 virus is excellent news and should come in to play in the USD currency pairings.
You can see from my chart, we are approaching a historic DEMAND zone which also forms as a really strong support level for the USDOLLAR . I see a nice bounce off support giving us a +2.5% return to the SUPPLY zone , also a strong resistance and AREA OF VALUE.
AUDUSD - Short
EURUSD - Short
GBPUSD - Short
USDCHF - Long
Good luck all
You can see from my chart, we are approaching a historic DEMAND zone which also forms as a really strong support level for the USDOLLAR . I see a nice bounce off support giving us a +2.5% return to the SUPPLY zone , also a strong resistance and AREA OF VALUE.
AUDUSD - Short
EURUSD - Short
GBPUSD - Short
USDCHF - Long
Good luck all
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