Medium Term direction is still not clear
Underlying USD bullishness has never abandoned the market, and a few headlines and good risk mood had many undecided traders jump back on the train.
Now, where are we headed? To durably go up, 115.6 must be cleared to confirm double bottom; a downturn from here might still shape up as a continuation H&S. Data is out in 1h, GDP and durable goods. Wait for it or enter now with a stop below 114.7 for longs and 115.6 for shorts.
Now, where are we headed? To durably go up, 115.6 must be cleared to confirm double bottom; a downturn from here might still shape up as a continuation H&S. Data is out in 1h, GDP and durable goods. Wait for it or enter now with a stop below 114.7 for longs and 115.6 for shorts.