Hello everyone!
GU forming what is called "cup and handle" pattern, what do we expect? an impulsive move to the upside targeting +1.41 with a tight stop loss which gives us a nice RR ratio!
Note: Breaking resistance at 1.4 gives the option to add more in the position size!
DXY is very bearish:
Wk 7. Slightly Bearish
1. Bull/Bear fight hard in Wk6. May visit 1.242x level again.
Once 1.247x is broken up, Bear careful.
2. S (1.242x, 1.234x)
R (1.255x, 1.60x)
Trade Safe,
s0nic