1. Descending wedge
2. MACD resetting at 0
3. Rate of change of MACD is improving
4. Hedgeye likes the country's macro fundamentals and has been mentioning it
The Dollar bounces from its crash-mode and sends everything down.
I have a position I am going to add to it.
Looking at the chart, we can see a fake breakout with the price returning back inside the bearish trend line. Barring any surprises, it should heads further south towards 84.65 or worse, 80.99.
I am more keen to buy this ETF than short it and at current price level, the risk reward does not seems justifiable to short it. But for those intraday...