Continuous bearish pressure on the Dollar has pushed it to monthly lows across most pairs because of the likeliness of a 'loosening of the monetary policy' in which interest rates will be brought down which has caused the dollar to fall. Along with this, tensions have arisen with the US and Iran over a US drone being shot down.
As we can, price has touched off an ascending trendline for the 3rd time on the D chart without a breakthrough and instead a large wick (bullish candle forming on the 4H). I'm going to wait for the daily closure before looking to go long to the previous resistance (4H) as we don't want to enter on a fake trend reversal.
Lets be patient. I hope this helps
As we can, price has touched off an ascending trendline for the 3rd time on the D chart without a breakthrough and instead a large wick (bullish candle forming on the 4H). I'm going to wait for the daily closure before looking to go long to the previous resistance (4H) as we don't want to enter on a fake trend reversal.
Lets be patient. I hope this helps