Euro is oversold across most pairs.
GBP is also oversold.
US Dollar index looks like it might top out at previous high soon.
RSI is facing downwards, which is why I set-up buy orders around 1.1550, 1.15650, 1.15750.
I think EUR can go down a little more, to the previous bottom around 1.15500, before correction/reversal.
I'm in the trade at 1.15900, hoping to buy...
Trade active at 1.31 (short USD/CAD )
Looking to add more shorts above 1.31 this week.
Hoping for USD/CAD to go up tomorrow (FOMC/rate decision), and I will add more shorts between 1.31-1.32. Can possibly go higher, but I doubt it, low probability.
And then hoping for trend to start reversal on Friday (Canadian CPI) and into the next week, and week after....
Daily RSI is coming close to oversold, CCI is oversold and changing direction. Gold follows daily RSI/CCI pretty accurately.
And if the pattern I've outlined repeats, I see gold bouncing back after FOMC decision, as Fed Fund Futures are now pricing in 100% chance of interest hike. The only positive news for US Dollar could be tax reform developments, but there...
Hey guys, new to posting/creating charts so any feedback/criticism will be appreciated and well received!
I see a very identical pattern repeating. Everything is described on the chart. I am hoping for GBP/JPY to resist the double top around 152.70/152.80.
These are approximate trade parameters, and as mentioned on chart, if it breaks above 152.80 and sustains...