Massive selloff of the Dollar after the Fed hiked interest rates.
Investors and traders reduced exposure and shifted risk over to the Yen and Swiss Franc.
Completion point of bullish Cypher in confluence with 50% retracement level.
On the lower time frames, there is RSI divergence
and depending on how the market opens in the New year,
we may get a double bottom.
However, not too eager to jump on this trade,
as time is needed for exhaustion of the high bearish momentum.
Investors and traders reduced exposure and shifted risk over to the Yen and Swiss Franc.
Completion point of bullish Cypher in confluence with 50% retracement level.
On the lower time frames, there is RSI divergence
and depending on how the market opens in the New year,
we may get a double bottom.
However, not too eager to jump on this trade,
as time is needed for exhaustion of the high bearish momentum.