Depending on how the DXY reacts, I still see the pound down to at least $1.29. Similar to EU, we had a push up early last week but if you check the daily chart it was just a pull back before weak UK retail numbers were released on Friday, giving the smart money conviction to make their big move down.
I have an open order to short the cable, which will hopefully...
We still haven’t quite made it to the key institutional level of 1.1080, we stalled just shy of it before the close on Friday. The start of the week was bullish (DXY inverse correlation). This enticed a lot of people into long positions and stopped out any early sellers. Notice on the higher timeframes, this was merely a correction in the recent downtrend, we...
Those equal highs are still there for the taking on the US Dollar Index. Last week, after some initial accumulation and price going sideways, we saw classic institutional manipulation via a false move to the downside. I finally got the bullish momentum I was waiting for on Thursday and Friday.
I’ll be looking for more strength going into next week, at least until...
