* This bull is due to geopolitical risk only *
* PA is currently above last week's high *
* However, once this N Korea and Trump's news has been settled, Bears will attack real hard. *
* Key levels to watch --> 1280, 1285, 1290
TVC:DJI has been on an up trend, however I am seeing signs of weakness although it is now heading toward the its initial control price area.
Chances are that if it cannot break 22200.00, the reversal may be unfolding... real soon.
If it does break, it may go above 22200.00 and beyond. If not, it is highly likely to come back to 21600.00 , 21500.00 level.
Friday NFP data saved USD from dropping to historic lows and the UJ is now heading towards previous resistance area.
However, The swing back may become a force the bears to push lower to 109.00 levels.
Look at the levels in the chart.
USD CAD at its lowest since 2016 May.
Bulls has last line of defense at around 1.2500 area.
This week's US data could be a good reason for reversal. --- Similar Patterns forming on USD pairs.
*Bullish Engulfing bar is circled. -- Risk a few pips to gain the higher reward**
*Time for a bit of consolidation at the last strong defense for bulls at the support area 93-94.*
*Highly Likely to bounce back to the initial dip.*
*Potential TP would be 95.*