USDCAD Short if trend line breached ;0)
Here's an Idea....why not wait for all the stops listed to get taken out, allow for the up-draught created by the exits to say 1.44 and then GO SHORT BIG TIME to the mean of all the listed target TP's......Hours of fun for you and the family mwahahaha ;0) BTW Barclays and Commerzbank have already bitten the dust ;0) HERE'S THE ORIGINAL...
Self explanatory chart.....X Marks the spots worthy of attention Good Luck, ENJOY! ;0)
I'm going out on a bit of a limb here, but I have been plotting the diagonal lines on this chart for the past couple of weeks.....The purple dotted line is my projection... we could see dollar aiming for the intersection at 'x' if thick red trend line is breached followed by a retest of said thick red line....hopefully this analysis will assist in decision...
Price action for DXY Showing positive upward bias ;0)
USD "Tipping Point" Bounce Up or Drop Down Time! ;0)
For "Direction" of USD, These trend lines couldn't make things any clearer.....hmmm is the market telling us something lol
OBVIOUS bearish action on USD good for EUR/USD and GBP/USD and other MAJORS, Not so good for USD/CAD & USD/TRY etc ;0)
Gonna stick my neck out and say buy from current level ;0) TP at 136264 ;0)
I reckon .8942 to be a resistive level currently being tested....price may range between here and .89226. I'm gonna go short after a sustained breach of this level. And will observe PA for exit / TP ;0)
Time to go LONG at 165.108 or slightly below ;0)
Take profit on quickie scalp at 165.108 ;0) Also prepare to go long on PA around this level
AU has run out of steam and now heading south. Price has satisfied technicals... and can begin to address likely RBA fundamentals...ie no change in interest rates ;0)