1.32 - is hit. major diagonal resistance level. RSI 4h showing serious divergence.
most likely good time to short.
key levels are observed on many pairs (jpy, eur, try, cad...) so I suspect dxy is about to turn somewhere here.
Today's USOIL breakout through resistance level 49.2 shows its about to go higher more.
Caution advised at 50.4 since it's a fib 0,618 and diagonal resistance level of the bearish channel. Oil might reverse here. Divergence on RSI (4/8 h) is supporting this option.
Although it might still go higher on usual low end of Summer/early Autumn Crude Oil Inventories...
FIRST TARGET =1.065
previous structure, resistance level, top of the channel
RSI - overbought
as for fundamentals/news noise:
ISIS/russia will still push for Marine Le Pen = more terror acts are expected
Marine Le Pen might win = big push down for EUR (0.85-0.9)
USOIL forming a downtrend 3rd (in major 1st) wave.
Clear channels forming too.
Had a .382 fib retracements this week. I believe correction is over.
Look for next week's short move with target around 45-45.5
XAU has reached .5 fib correction target and stopped.
Previously 4h rsi divergence had been observed. Similar wedge pattern is forming.
Now correction is almost done (rsi). Short gold for a week or two before Big long. Target 1170-1200.