USDOLLAR - Right Shoulder Completion ⚠️
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Last week we were waiting for the right shoulder to be completed. We moved up nicely to the right shoulder and we capitalised on the XXXUSD shorts, particularly the EURUSD short (see linked chart for EURUSD analysis).
We are now waiting for bearish price action to confirm USD weakness. If we do not get the bearish price action from the right shoulder, the next area we are looking at is the recent highs of 12040 for rejection.
We will be correlating this chart with the XXXUSD charts.
Goodluck and as always, trade safe!
Last week we were waiting for the right shoulder to be completed. We moved up nicely to the right shoulder and we capitalised on the XXXUSD shorts, particularly the EURUSD short (see linked chart for EURUSD analysis).
We are now waiting for bearish price action to confirm USD weakness. If we do not get the bearish price action from the right shoulder, the next area we are looking at is the recent highs of 12040 for rejection.
We will be correlating this chart with the XXXUSD charts.
Goodluck and as always, trade safe!
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